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

Neo Ivy Capital Management purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,384 shares of the medical equipment provider’s stock, valued at approximately $150,000.

Several other institutional investors have also recently made changes to their positions in the business. BLB&B Advisors LLC lifted its holdings in Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 100 shares in the last quarter. FWG Holdings LLC lifted its stake in shares of Zimmer Biomet by 2.9% during the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after buying an additional 101 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in Zimmer Biomet by 3.5% in the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after buying an additional 103 shares during the period. M&R Capital Management Inc. increased its stake in Zimmer Biomet by 14.1% in the 3rd quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock worth $92,000 after buying an additional 105 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its holdings in Zimmer Biomet by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 106 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

ZBH stock opened at $106.84 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.70 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. The stock has a market cap of $21.27 billion, a PE ratio of 20.31, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a 50-day moving average price of $107.59 and a 200 day moving average price of $108.83.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results 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 return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Analysts Set New Price Targets

ZBH has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Oppenheimer dropped 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 report on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, Wells Fargo & Company increased 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. Two 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.com, the stock presently has an average rating of “Hold” and an average target price of $122.83.

Zimmer Biomet 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.