Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,620 shares of the medical equipment provider’s stock after buying an additional 600 shares during the period. Public Sector Pension Investment Board’s holdings in Zimmer Biomet were worth $931,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Providence Capital Advisors LLC boosted its stake in shares of Zimmer Biomet by 8.6% in the third quarter. Providence Capital Advisors LLC now owns 52,800 shares of the medical equipment provider’s stock worth $5,700,000 after acquiring an additional 4,191 shares during the last quarter. FORA Capital LLC lifted its stake in shares of Zimmer Biomet by 6.6% in the third quarter. FORA Capital LLC now owns 38,314 shares of the medical equipment provider’s stock worth $4,136,000 after buying an additional 2,371 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Zimmer Biomet by 163.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 44,554 shares of the medical equipment provider’s stock valued at $4,810,000 after acquiring an additional 27,673 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Zimmer Biomet in the 3rd quarter valued at about $341,000. Finally, Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $35,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BTIG Research reduced their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Royal Bank of Canada lifted their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Two 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.22.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $108.03 on Friday. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a fifty day simple moving average of $107.52 and a two-hundred day simple moving average of $109.02. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a market cap of $21.51 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 EPS. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal 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.