Charter Trust Co. acquired a new position in Zimmer Biomet Holdings Inc (NYSE:ZBH) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,620 shares of the medical equipment provider’s stock, valued at approximately $213,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Zimmer Biomet by 3.2% in the third quarter. BlackRock Inc. now owns 15,812,529 shares of the medical equipment provider’s stock worth $2,078,872,000 after acquiring an additional 485,479 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Zimmer Biomet by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 11,595,444 shares of the medical equipment provider’s stock worth $1,524,453,000 after acquiring an additional 1,033,717 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Zimmer Biomet by 26.9% in the third quarter. OppenheimerFunds Inc. now owns 2,477,866 shares of the medical equipment provider’s stock worth $325,765,000 after acquiring an additional 524,904 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Zimmer Biomet by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 2,436,303 shares of the medical equipment provider’s stock worth $320,301,000 after acquiring an additional 31,561 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Zimmer Biomet by 33.3% in the third quarter. Primecap Management Co. CA now owns 1,713,930 shares of the medical equipment provider’s stock worth $225,330,000 after acquiring an additional 428,311 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.
Shares of ZBH opened at $109.92 on Friday. Zimmer Biomet Holdings Inc has a 52 week low of $104.28 and a 52 week high of $134.55. The company has a market cap of $22.84 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.27 and a beta of 1.16. The company has a current ratio of 1.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70.
Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. On average, equities research analysts predict that Zimmer Biomet Holdings Inc will post 7.64 EPS for the current year.
Several research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $150.00 target price on shares of Zimmer Biomet in a research report on Monday, August 27th. BTIG Research assumed coverage on shares of Zimmer Biomet in a research report on Thursday, August 16th. They issued a “neutral” rating on the stock. Needham & Company LLC downgraded shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 target price on the stock. in a research report on Monday, August 13th. Oppenheimer set a $135.00 target price on shares of Zimmer Biomet and gave the stock a “buy” rating in a research report on Thursday. Finally, Leerink Swann dropped their target price on shares of Zimmer Biomet from $146.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Zimmer Biomet has an average rating of “Hold” and a consensus target price of $134.90.
In other Zimmer Biomet news, VP Chad F. Phipps sold 30,100 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $132.37, for a total value of $3,984,337.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.
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Zimmer Biomet Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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