Glenmede Trust Co. NA Has $4.81 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Glenmede Trust Co. NA lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 163.9% during the third quarter, HoldingsChannel reports. The firm owned 44,554 shares of the medical equipment provider’s stock after acquiring an additional 27,673 shares during the quarter. Glenmede Trust Co. NA’s holdings in Zimmer Biomet were worth $4,810,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC acquired a new stake in Zimmer Biomet during the 3rd quarter valued at $341,000. Brooklyn Investment Group bought a new stake in Zimmer Biomet in the 3rd quarter valued at about $35,000. FMR LLC grew its position in Zimmer Biomet by 27.6% during the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock worth $80,999,000 after buying an additional 162,384 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Zimmer Biomet by 12.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,806 shares of the medical equipment provider’s stock worth $195,000 after purchasing an additional 195 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Zimmer Biomet by 6.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 25,133 shares of the medical equipment provider’s stock valued at $2,713,000 after buying an additional 1,618 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. 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 report on Monday, November 4th. Finally, Raymond James dropped their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $123.22.

Zimmer Biomet Price Performance

ZBH stock opened at $112.10 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a market cap of $22.32 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.06 and a beta of 1.02. The company’s fifty day simple moving average is $107.29 and its 200 day simple moving average is $109.38. 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 announced 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. 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 for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet 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.