Rovin Capital UT ADV Grows Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Rovin Capital UT ADV raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,397 shares of the medical equipment provider’s stock after acquiring an additional 645 shares during the quarter. Rovin Capital UT ADV’s holdings in Zimmer Biomet were worth $586,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new position in Zimmer Biomet in the fourth quarter valued at $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $30,000. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $31,000. Naples Money Management LLC purchased a new stake in Zimmer Biomet during the fourth quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp boosted its holdings in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $0.75 during mid-day trading on Friday, reaching $110.65. The stock had a trading volume of 963,210 shares, compared to its average volume of 1,494,202. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The business has a 50 day simple moving average of $108.57 and a 200 day simple moving average of $118.18. The firm has a market capitalization of $22.53 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZBH. Robert W. Baird reduced their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Citigroup dropped their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reduced their target price on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer dropped their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $127.67.

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.