Independence Bank of Kentucky Has $612,000 Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Independence Bank of Kentucky lessened its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 30.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,643 shares of the medical equipment provider’s stock after selling 2,442 shares during the period. Independence Bank of Kentucky’s holdings in Zimmer Biomet were worth $612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. Norges Bank bought a new stake in Zimmer Biomet during the fourth quarter valued at $266,896,000. Price T Rowe Associates Inc. MD boosted its position in shares of Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. Boston Partners increased its position in Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after buying an additional 691,191 shares in the last quarter. Van ECK Associates Corp raised its stake in Zimmer Biomet by 23.7% during the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after buying an additional 543,344 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after acquiring an additional 484,151 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Evercore ISI reduced their price objective on shares of Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group dropped their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Tuesday, August 20th. Finally, UBS Group decreased their price objective on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $127.11.

Zimmer Biomet Price Performance

NYSE ZBH opened at $115.05 on Monday. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $23.67 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90. The firm’s 50-day simple moving average is $108.98 and its two-hundred day simple moving average is $117.60.

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

Zimmer Biomet 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.