Erste Asset Management GmbH Invests $4.48 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Erste Asset Management GmbH bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,363 shares of the medical equipment provider's stock, valued at approximately $4,476,000.

A number of other hedge funds have also made changes to their positions in ZBH. Gradient Investments LLC increased its holdings in shares of Zimmer Biomet by 17.3% in the second quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider's stock valued at $14,147,000 after purchasing an additional 19,224 shares during the last quarter. National Pension Service increased its holdings in shares of Zimmer Biomet by 3.8% in the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider's stock valued at $39,893,000 after purchasing an additional 13,612 shares during the last quarter. River Global Investors LLP increased its holdings in shares of Zimmer Biomet by 31.3% in the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider's stock valued at $2,276,000 after purchasing an additional 5,030 shares during the last quarter. Border to Coast Pensions Partnership Ltd increased its holdings in shares of Zimmer Biomet by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 155,254 shares of the medical equipment provider's stock valued at $16,711,000 after purchasing an additional 6,623 shares during the last quarter. Finally, Point72 Europe London LLP acquired a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $7,402,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Up 0.2 %

NYSE:ZBH traded up $0.24 during midday trading on Tuesday, reaching $110.74. The company had a trading volume of 1,212,778 shares, compared to its average volume of 1,493,825. The firm has a market capitalization of $22.05 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.03 and a beta of 1.02. The stock's fifty day simple moving average is $107.41 and its 200-day simple moving average is $109.15. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-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.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts' consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the firm earned $1.65 earnings per share. Zimmer Biomet's quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZBH has been the subject of several analyst reports. Robert W. Baird lowered their price objective on Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Raymond James lowered their price objective on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. TD Cowen lowered their price objective on Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating for the company in a research report on Friday, September 6th. 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 report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Two equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $123.22.

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.