Hotchkis & Wiley Capital Management LLC Purchases 577,320 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Hotchkis & Wiley Capital Management LLC boosted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 49.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,752,298 shares of the medical equipment provider's stock after purchasing an additional 577,320 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.88% of Zimmer Biomet worth $189,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. American Century Companies Inc. grew its position in Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock worth $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Equity Investment Corp purchased a new position in Zimmer Biomet during the 3rd quarter worth approximately $70,104,000. Magnetar Financial LLC boosted its stake in shares of Zimmer Biomet by 58.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider's stock valued at $142,203,000 after buying 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 valued at $391,239,000 after buying an additional 411,163 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Zimmer Biomet during the 3rd quarter valued at $41,588,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 0.2 %

NYSE ZBH traded up $0.24 during trading hours on Tuesday, hitting $110.74. The company's stock had a trading volume of 1,212,778 shares, compared to its average volume of 1,493,825. The stock has a fifty day moving average of $107.29 and a 200 day moving average of $109.30. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The firm has a market capitalization of $22.05 billion, a P/E ratio of 21.04, a PEG ratio of 2.03 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business posted $1.65 earnings per share. Zimmer Biomet's revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZBH. Evercore ISI decreased their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating for the company in a research note on Tuesday, October 1st. Oppenheimer cut 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. Truist Financial boosted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Wolfe Research started coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a "peer perform" rating for the company. Finally, Wells Fargo & Company boosted their target price on shares of 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.