Hotchkis & Wiley Capital Management LLC Grows Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Hotchkis & Wiley Capital Management LLC raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 49.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,752,298 shares of the medical equipment provider’s stock after purchasing an additional 577,320 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Zimmer Biomet were worth $189,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cetera Investment Advisers lifted its stake in Zimmer Biomet by 9.2% in the first quarter. Cetera Investment Advisers now owns 64,491 shares of the medical equipment provider’s stock worth $8,512,000 after acquiring an additional 5,454 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Zimmer Biomet by 30.0% during the first quarter. EverSource Wealth Advisors LLC now owns 875 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 202 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Zimmer Biomet by 81.6% in the second quarter. GAMMA Investing LLC now owns 986 shares of the medical equipment provider’s stock worth $107,000 after buying an additional 443 shares during the period. DNB Asset Management AS raised its holdings in Zimmer Biomet by 7.9% in the second quarter. DNB Asset Management AS now owns 35,455 shares of the medical equipment provider’s stock worth $3,848,000 after purchasing an additional 2,597 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Zimmer Biomet during the 2nd quarter valued at $257,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Down 1.4 %

Shares of Zimmer Biomet stock opened at $110.50 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The company has a fifty day moving average of $107.29 and a 200 day moving average of $109.30. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The company has a market capitalization of $22.00 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.06 and a beta of 1.02.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ZBH. Wolfe Research initiated coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Raymond James cut their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Royal Bank of Canada upped their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Canaccord Genuity Group lowered 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. Finally, Truist Financial raised their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $123.22.

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.