Stock Yards Bank & Trust Co. Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Stock Yards Bank & Trust Co. lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,713 shares of the medical equipment provider’s stock after selling 267 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Zimmer Biomet were worth $293,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Zimmer Biomet by 3.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 24,286 shares of the medical equipment provider’s stock worth $2,636,000 after purchasing an additional 815 shares in the last quarter. Boomfish Wealth Group LLC raised its stake in shares of Zimmer Biomet by 19.5% in the 2nd quarter. Boomfish Wealth Group LLC now owns 11,387 shares of the medical equipment provider’s stock valued at $1,236,000 after acquiring an additional 1,855 shares during the period. Raymond James & Associates boosted its position in Zimmer Biomet by 4.9% during the 2nd quarter. Raymond James & Associates now owns 108,105 shares of the medical equipment provider’s stock worth $11,733,000 after purchasing an additional 5,039 shares during the period. Dakota Wealth Management lifted its stake in shares of Zimmer Biomet by 32.7% during the second quarter. Dakota Wealth Management now owns 9,414 shares of the medical equipment provider’s stock worth $1,022,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in shares of Zimmer Biomet by 4.0% in the second quarter. Atria Wealth Solutions Inc. now owns 16,063 shares of the medical equipment provider’s stock valued at $1,746,000 after buying an additional 617 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ZBH shares. Barclays lowered their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday. TD Cowen decreased their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Canaccord Genuity Group reduced their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Wolfe Research started coverage on Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $122.83.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $106.74 on Friday. The firm has a market cap of $21.25 billion, a P/E ratio of 20.29, a PEG ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The stock’s 50-day moving average is $107.69 and its two-hundred day moving average is $108.75.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts predict 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.