Cobblestone Capital Advisors LLC NY Lowers Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cobblestone Capital Advisors LLC NY trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,343 shares of the medical equipment provider’s stock after selling 147 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Zimmer Biomet were worth $361,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ZBH. American Century Companies Inc. lifted its position in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after acquiring an additional 722,041 shares in the last quarter. Equity Investment Corp purchased a new stake in Zimmer Biomet during the third quarter valued at approximately $70,104,000. Magnetar Financial LLC raised its position in Zimmer Biomet by 58.7% in the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after acquiring an additional 484,816 shares during the period. Van ECK Associates Corp boosted its stake in shares of Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after acquiring an additional 411,163 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Zimmer Biomet during the third quarter valued at about $41,588,000. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ZBH has been the subject of a number of analyst reports. Robert W. Baird cut their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen reduced their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Wells Fargo & Company boosted their price objective 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. Finally, BTIG Research lowered their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.22.

Zimmer Biomet Trading Up 0.1 %

ZBH opened at $112.10 on Monday. 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 stock’s fifty day moving average is $107.29 and its two-hundred day moving average is $109.30. The company has a market capitalization of $22.32 billion, a P/E ratio of 21.31, a PEG ratio of 2.06 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly 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 firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current 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.