HighTower Advisors LLC Sells 262 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

HighTower Advisors LLC lessened its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 62,503 shares of the medical equipment provider’s stock after selling 262 shares during the period. HighTower Advisors LLC’s holdings in Zimmer Biomet were worth $6,706,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after acquiring an additional 411,163 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after acquiring an additional 211,637 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Zimmer Biomet by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock worth $277,357,000 after acquiring an additional 9,990 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Zimmer Biomet by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,810,770 shares of the medical equipment provider’s stock valued at $196,523,000 after purchasing an additional 154,447 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Evercore ISI decreased their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Canaccord Genuity Group decreased their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Truist Financial raised their price target on Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Trading Up 1.3 %

Shares of NYSE:ZBH opened at $109.47 on Tuesday. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The stock has a market cap of $21.79 billion, a PE ratio of 20.81, a P/E/G ratio of 1.99 and a beta of 1.02. The business has a 50 day moving average of $107.55 and a 200-day moving average of $108.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.