Neo Ivy Capital Management Acquires New Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Neo Ivy Capital Management bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the third quarter, Holdings Channel.com reports. The institutional investor bought 1,384 shares of the medical equipment provider’s stock, valued at approximately $150,000.

Other hedge funds have also modified their holdings of the company. Brown Financial Advisors raised its stake in shares of Zimmer Biomet by 16.6% during the 3rd quarter. Brown Financial Advisors now owns 9,566 shares of the medical equipment provider’s stock worth $1,033,000 after acquiring an additional 1,361 shares in the last quarter. Geode Capital Management LLC grew its holdings in Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after purchasing an additional 125,852 shares during the last quarter. M&T Bank Corp increased its position in shares of Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after purchasing an additional 8,709 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Zimmer Biomet by 112.4% during the 3rd quarter. LRI Investments LLC now owns 1,094 shares of the medical equipment provider’s stock valued at $119,000 after purchasing an additional 579 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Zimmer Biomet by 6.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 59,966 shares of the medical equipment provider’s stock worth $6,473,000 after purchasing an additional 3,628 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI decreased their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Oppenheimer lowered their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Truist Financial upped their price target 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. Wells Fargo & Company boosted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $122.83.

Zimmer Biomet Stock Down 0.1 %

Shares of NYSE:ZBH opened at $106.84 on Friday. The firm has a 50 day simple moving average of $107.59 and a 200-day simple moving average of $108.83. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. 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 company has a market capitalization of $21.27 billion, a PE ratio of 20.31, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Zimmer Biomet’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS 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.