&Partners Purchases Shares of 2,696 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

&Partners purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,696 shares of the medical equipment provider’s stock, valued at approximately $293,000.

A number of other institutional investors have also made changes to their positions in the stock. Oak Family Advisors LLC grew its holdings in shares of Zimmer Biomet by 2.8% in the second quarter. Oak Family Advisors LLC now owns 66,296 shares of the medical equipment provider’s stock valued at $7,195,000 after purchasing an additional 1,821 shares in the last quarter. United Bank grew its holdings in shares of Zimmer Biomet by 8.2% in the second quarter. United Bank now owns 8,851 shares of the medical equipment provider’s stock valued at $961,000 after purchasing an additional 674 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Zimmer Biomet in the second quarter valued at approximately $2,979,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Zimmer Biomet in the second quarter valued at approximately $283,000. Finally, Atria Wealth Solutions Inc. grew its holdings in Zimmer Biomet by 4.0% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,063 shares of the medical equipment provider’s stock worth $1,746,000 after acquiring an additional 617 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $115.05 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market capitalization of $23.67 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.02 and a beta of 1.01. The company’s fifty day moving average is $108.98 and its two-hundred day moving average is $117.60. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.02. The company 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%. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.06 earnings per share for the current year.

Analyst Ratings Changes

ZBH has been the subject of several analyst reports. UBS Group lowered their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Evercore ISI lowered their price target 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. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Citigroup reduced their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $127.11.

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.