NorthCrest Asset Manangement LLC Grows Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

NorthCrest Asset Manangement LLC raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,163 shares of the medical equipment provider’s stock after acquiring an additional 629 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Zimmer Biomet were worth $6,312,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ZBH. M&G Plc lifted its position in Zimmer Biomet by 41.5% in the second quarter. M&G Plc now owns 79,285 shares of the medical equipment provider’s stock valued at $8,642,000 after purchasing an additional 23,245 shares during the period. Bridge Creek Capital Management LLC lifted its holdings in Zimmer Biomet by 3.7% in the second quarter. Bridge Creek Capital Management LLC now owns 26,241 shares of the medical equipment provider’s stock valued at $2,848,000 after acquiring an additional 941 shares during the period. Czech National Bank boosted its position in shares of Zimmer Biomet by 6.6% during the 2nd quarter. Czech National Bank now owns 39,204 shares of the medical equipment provider’s stock worth $4,255,000 after purchasing an additional 2,434 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Zimmer Biomet by 224.7% in the second quarter. SG Americas Securities LLC now owns 87,603 shares of the medical equipment provider’s stock valued at $9,508,000 after purchasing an additional 60,624 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its holdings in Zimmer Biomet by 107.7% during the second quarter. Gilman Hill Asset Management LLC now owns 26,358 shares of the medical equipment provider’s stock worth $2,861,000 after buying an additional 13,668 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of research reports. Raymond James reduced their price target on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. UBS Group cut their price target on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Truist Financial lowered their price objective on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. Finally, Citigroup dropped their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $127.67.

Zimmer Biomet Trading Down 0.9 %

Shares of Zimmer Biomet stock traded down $1.03 during trading hours on Wednesday, reaching $108.28. The stock had a trading volume of 158,056 shares, compared to its average volume of 1,493,341. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. The firm has a market capitalization of $22.05 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.88 and a beta of 1.01. The firm has a 50 day simple moving average of $108.78 and a two-hundred day simple moving average of $118.39.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 EPS. As a group, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.08 earnings per share for the current year.

Zimmer Biomet Company Profile

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.