Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet during the third quarter worth $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the third quarter worth $31,000. Family Firm Inc. acquired a new stake in shares of Zimmer Biomet during the second quarter worth $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Zimmer Biomet during the second quarter worth $43,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Zimmer Biomet during the second quarter worth $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ZBH shares. Robert W. Baird dropped their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Raymond James lowered their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Finally, UBS Group lowered their price target 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $123.22.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $112.06 on Thursday. 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 50-day moving average of $107.07 and a 200-day moving average of $109.49. The firm 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.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion during 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%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. Analysts forecast 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.