Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stock Position Lowered by Tidal Investments LLC

Tidal Investments LLC lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,404 shares of the medical equipment provider’s stock after selling 1,319 shares during the quarter. Tidal Investments LLC’s holdings in Zimmer Biomet were worth $2,958,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ZBH. Dunhill Financial LLC increased its holdings in shares of Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Zimmer Biomet in the 3rd quarter worth $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the third quarter worth $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet during the second quarter valued at $33,000. Finally, Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet in the 3rd quarter valued at $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wolfe Research began coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Barclays reduced their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research report on Thursday. Royal Bank of Canada lifted their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Truist Financial raised their target price on Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus target price of $122.83.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $106.74 on Monday. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The company has a market cap of $21.25 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.96 and a beta of 1.02. The business’s 50 day moving average is $107.69 and its two-hundred day moving average is $108.65. 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 released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting 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 net margin of 14.27% and a return on equity of 12.95%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current 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.