Providence Capital Advisors LLC Raises Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Providence Capital Advisors LLC grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,800 shares of the medical equipment provider’s stock after buying an additional 4,191 shares during the quarter. Providence Capital Advisors LLC’s holdings in Zimmer Biomet were worth $5,700,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ZBH. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet in the 3rd quarter worth $28,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet in the 3rd quarter worth $31,000. Family Firm Inc. bought a new position in shares of Zimmer Biomet in the 2nd quarter worth $33,000. Brooklyn Investment Group bought a new position in shares of Zimmer Biomet in the 3rd quarter worth $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Zimmer Biomet in the 2nd quarter worth $43,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Up 1.3 %

Zimmer Biomet stock opened at $112.06 on Thursday. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The firm has a market cap of $22.31 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. The business’s 50-day moving average price is $107.07 and its 200 day moving average price is $109.49. 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 posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $1.65 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. BTIG Research reduced their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Oppenheimer reduced their price target on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. TD Cowen reduced their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Evercore ISI reduced their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $123.22.

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.