Virtu Financial LLC lifted its position in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 8.9% in the third quarter, Holdings Channel reports. The firm owned 3,765 shares of the medical equipment provider’s stock after acquiring an additional 307 shares during the period. Virtu Financial LLC’s holdings in Zimmer Biomet were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Zimmer Biomet by 65.0% in the 3rd quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Personal Wealth Partners acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $26,000. TRUE Private Wealth Advisors acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $26,000. Coastal Investment Advisors Inc. boosted its position in shares of Zimmer Biomet by 271.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 187 shares during the period. Finally, Bridger Capital Management LLC acquired a new stake in shares of Zimmer Biomet in the 3rd quarter valued at about $39,000. 87.38% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Leerink Swann upped their target price on Zimmer Biomet from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. They noted that the move was a valuation call. Canaccord Genuity raised Zimmer Biomet from a “hold” rating to a “buy” rating and upped their target price for the company from $137.00 to $167.00 in a research report on Wednesday, September 18th. BTIG Research raised Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $158.00 target price for the company in a research report on Monday, October 7th. Raymond James upped their target price on Zimmer Biomet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their target price on Zimmer Biomet from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the stock. Zimmer Biomet presently has a consensus rating of “Buy” and an average target price of $147.24.
In other news, insider Aure Bruneau sold 15,171 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $146.78, for a total transaction of $2,226,799.38. Also, insider Didier Deltort sold 360 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $139.25, for a total value of $50,130.00. Following the transaction, the insider now directly owns 1,194 shares of the company’s stock, valued at $166,264.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,615 shares of company stock valued at $2,288,725. Company insiders own 0.72% of the company’s stock.
Zimmer Biomet stock opened at $144.46 on Tuesday. Zimmer Biomet Holdings Inc has a twelve month low of $96.99 and a twelve month high of $147.52. The stock has a 50 day moving average of $141.03 and a two-hundred day moving average of $131.22. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $29.88 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.77 and a beta of 1.15.
Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.02. Zimmer Biomet had a positive return on equity of 13.71% and a negative net margin of 1.14%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts predict that Zimmer Biomet Holdings Inc will post 7.83 earnings per share for the current year.
About Zimmer Biomet
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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