Today, Westchester Capital Management Inc. Reduces Position in Zimmer Biomet Holdings Inc. (ZBH)

Today, Westchester Capital Management Inc. Reduces Position in Zimmer Biomet Holdings Inc. (ZBH)

Westchester Capital Management Inc. lowered its stake in Zimmer Biomet Holdings Inc. (NYSE:ZBH) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,654 shares of the company’s stock after selling 5,590 shares during the period. Zimmer Biomet Holdings accounts for about 3.9% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 12th largest position. Westchester Capital Management Inc.’s holdings in Zimmer Biomet Holdings were worth $8,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Liberty Capital Management Inc. bought a new stake in Zimmer Biomet Holdings during the third quarter valued at $108,000. NEXT Financial Group Inc raised its stake in Zimmer Biomet Holdings by 64.5% in the third quarter. NEXT Financial Group Inc now owns 913 shares of the company’s stock valued at $119,000 after buying an additional 358 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Zimmer Biomet Holdings by 205.3% in the second quarter. Tower Research Capital LLC TRC now owns 916 shares of the company’s stock valued at $110,000 after buying an additional 616 shares in the last quarter. Global X Management Co. LLC raised its stake in Zimmer Biomet Holdings by 238.4% in the second quarter. Global X Management Co. LLC now owns 1,032 shares of the company’s stock valued at $124,000 after buying an additional 727 shares in the last quarter. Finally, Enterprise Financial Services Corp raised its stake in Zimmer Biomet Holdings by 173.9% in the second quarter. Enterprise Financial Services Corp now owns 1,260 shares of the company’s stock valued at $151,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 88.87% of the company’s stock.

Shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) opened at 102.08 on Friday. Zimmer Biomet Holdings Inc. has a 52 week low of $88.27 and a 52 week high of $133.21. The company has a market capitalization of $20.45 billion, a PE ratio of 57.16 and a beta of 1.28. The company has a 50-day moving average price of $114.43 and a 200-day moving average price of $121.78.

Zimmer Biomet Holdings (NYSE:ZBH) last issued its quarterly earnings results on Monday, October 31st. The company reported $1.79 earnings per share for the quarter, meeting the consensus estimate of $1.79. Zimmer Biomet Holdings had a return on equity of 16.48% and a net margin of 3.46%. The firm earned $1.83 billion during the quarter, compared to the consensus estimate of $950.20 million. During the same period last year, the company earned $1.64 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Analysts predict that Zimmer Biomet Holdings Inc. will post $7.92 earnings per share for the current year.

Several analysts have recently weighed in on ZBH shares. Royal Bank Of Canada lowered their price objective on shares of Zimmer Biomet Holdings from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, November 1st. Northcoast Research lowered shares of Zimmer Biomet Holdings from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 8th. RBC Capital Markets set a $143.00 price objective on shares of Zimmer Biomet Holdings and gave the company a “buy” rating in a research note on Wednesday, September 14th. Barclays PLC lifted their price objective on shares of Zimmer Biomet Holdings from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Finally, Argus reiterated a “buy” rating and issued a $140.00 price objective on shares of Zimmer Biomet Holdings in a research note on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $131.15.

In other news, insider Daniel E. Williamson sold 2,716 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $129.96, for a total transaction of $352,971.36. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $259,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.22% of the company’s stock.

About Zimmer Biomet Holdings

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