Daiwa Securities Group Inc. Buys 1,618 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Daiwa Securities Group Inc. grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,133 shares of the medical equipment provider’s stock after acquiring an additional 1,618 shares during the period. Daiwa Securities Group Inc.’s holdings in Zimmer Biomet were worth $2,713,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Zimmer Biomet by 12.4% in 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 buying an additional 411,163 shares during the period. Victory Capital Management Inc. grew its position in shares of Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares in the last quarter. Boston Partners increased its stake in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after buying an additional 691,191 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Zimmer Biomet by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after buying an additional 9,990 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 1.3 %

NYSE ZBH opened at $112.06 on Thursday. The stock has a market cap of $22.31 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.04 and a beta of 1.02. 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 company has a fifty day simple moving average of $107.07 and a two-hundred day simple moving average of $109.49.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts’ consensus estimates of $1.74. The company 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 firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ZBH shares. Truist Financial increased their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reduced their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Robert W. Baird dropped their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. BTIG Research reduced their price target 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, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $123.22.

About Zimmer Biomet

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.