Wahed Invest LLC Boosts Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wahed Invest LLC grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,964 shares of the medical equipment provider’s stock after acquiring an additional 464 shares during the period. Wahed Invest LLC’s holdings in Zimmer Biomet were worth $536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the period. Van ECK Associates Corp grew its stake in shares of Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after buying an additional 411,163 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Zimmer Biomet by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Zimmer Biomet by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock worth $277,357,000 after buying an additional 9,990 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Zimmer Biomet by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,810,770 shares of the medical equipment provider’s stock worth $196,523,000 after buying an additional 154,447 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $108.03 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The stock’s fifty day moving average is $107.52 and its 200 day moving average is $109.16. The stock has a market cap of $21.51 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business posted $1.65 EPS. Zimmer Biomet’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several recent research reports. Raymond James cut their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Canaccord Genuity Group cut their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Wolfe Research began coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Finally, Royal Bank of Canada increased their target price on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target 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.