Summit Trail Advisors LLC Has $372,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Summit Trail Advisors LLC lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,438 shares of the medical equipment provider’s stock after selling 179 shares during the period. Summit Trail Advisors LLC’s holdings in Zimmer Biomet were worth $372,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet during the third quarter valued at approximately $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet in the third quarter worth $31,000. Family Firm Inc. acquired a new stake in shares of Zimmer Biomet in the second quarter worth $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Zimmer Biomet in the second quarter worth $43,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Zimmer Biomet in the second quarter worth $43,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lowered 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. BTIG Research lowered their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Oppenheimer reduced their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. UBS Group reduced their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial raised their target price on Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Stock Up 1.3 %

Shares of NYSE ZBH opened at $112.06 on Thursday. The firm’s 50-day simple moving average is $107.07 and its 200 day simple moving average is $109.49. The company has a market cap of $22.31 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 1.36 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 results 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 business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. On average, research analysts expect 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.