Glenmede Trust Co. NA Purchases 27,673 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Glenmede Trust Co. NA grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 163.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,554 shares of the medical equipment provider’s stock after acquiring an additional 27,673 shares during the period. Glenmede Trust Co. NA’s holdings in Zimmer Biomet were worth $4,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet in the third quarter worth $28,000. Bangor Savings Bank acquired a new stake in Zimmer Biomet in the 3rd quarter valued at about $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet during the second quarter worth approximately $33,000. Brooklyn Investment Group bought a new stake in shares of Zimmer Biomet during the third quarter valued at approximately $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet in the 2nd quarter worth approximately $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Oppenheimer lowered their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. BTIG Research dropped their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada lifted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Robert W. Baird cut their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $123.22.

Zimmer Biomet Stock Up 0.1 %

Zimmer Biomet stock opened at $112.10 on Friday. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. 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 company has a 50 day moving average of $107.29 and a 200-day moving average of $109.38. The stock has a market capitalization of $22.32 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its 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 firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company’s 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, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

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.