Public Sector Pension Investment Board Increases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Public Sector Pension Investment Board lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.5% in the 3rd quarter, according to its most recent 13F 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 quarter. 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 have also modified their holdings of ZBH. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet during the 3rd quarter worth approximately $28,000. Bangor Savings Bank acquired a new position in shares of Zimmer Biomet in the 3rd quarter valued at $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet in the 2nd quarter valued at $33,000. Brooklyn Investment Group purchased a new stake in Zimmer Biomet in the 3rd quarter valued at $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Zimmer Biomet during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ZBH shares. Evercore ISI reduced their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Raymond James reduced their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. TD Cowen dropped their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, Wolfe Research initiated coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Price Performance

ZBH stock opened at $108.03 on Friday. The firm has a 50 day moving average of $107.52 and a 200-day moving average of $109.02. The company has a market cap of $21.51 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.03 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (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 was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. As a group, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

About Zimmer Biomet

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.