LRI Investments LLC Increases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

LRI Investments LLC grew its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 112.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,094 shares of the medical equipment provider’s stock after purchasing an additional 579 shares during the quarter. LRI Investments LLC’s holdings in Zimmer Biomet were worth $119,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in Zimmer Biomet by 7.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 2,306 shares of the medical equipment provider’s stock worth $250,000 after buying an additional 150 shares during the last quarter. Welch Group LLC increased its position in Zimmer Biomet by 76.3% during the second quarter. Welch Group LLC now owns 5,315 shares of the medical equipment provider’s stock worth $577,000 after purchasing an additional 2,300 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Zimmer Biomet during the second quarter worth about $43,000. Assenagon Asset Management S.A. increased its holdings in shares of 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 buying an additional 815 shares during the last quarter. Finally, Rovin Capital UT ADV lifted its holdings in Zimmer Biomet by 13.6% in the second quarter. Rovin Capital UT ADV now owns 5,397 shares of the medical equipment provider’s stock valued at $586,000 after acquiring an additional 645 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on ZBH shares. Raymond James decreased 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. JPMorgan Chase & Co. lowered their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada lifted their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, Oppenheimer decreased their price target on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $108.40 on Wednesday. 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 $21.58 billion, a P/E ratio of 20.61, a PEG ratio of 1.99 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. The firm has a fifty day moving average price of $107.55 and a 200 day moving average price of $108.90.

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