Verition Fund Management Lowers stake in Zimmer Biomet Holdings Inc (ZBH)

Zimmer Biomet Holdings Inc (ZBH) : Verition Fund Management reduced its stake in Zimmer Biomet Holdings Inc by 3.04% during the most recent quarter end. The investment management company now holds a total of 62,880 shares of Zimmer Biomet Holdings Inc which is valued at $7.4 Million after selling 1,973 shares in Zimmer Biomet Holdings Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Zimmer Biomet Holdings Inc makes up approximately 1.95% of Verition Fund Management’s portfolio.

Other Hedge Funds, Including , Public Sector Pension Investment Board reduced its stake in ZBH by selling 14,800 shares or 33.88% in the most recent quarter. The Hedge Fund company now holds 28,887 shares of ZBH which is valued at $3.4 Million. Zimmer Biomet Holdings Inc makes up approx 0.04% of Public Sector Pension Investment Board’s portfolio.Stratos Wealth Partners Ltd. boosted its stake in ZBH in the latest quarter, The investment management firm added 56 additional shares and now holds a total of 2,598 shares of Zimmer Biomet Holdings Inc which is valued at $305,109. Zimmer Biomet Holdings Inc makes up approx 0.03% of Stratos Wealth Partners Ltd.’s portfolio.Ohio National Investments boosted its stake in ZBH in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 3,970 shares of Zimmer Biomet Holdings Inc which is valued at $459,607. Zimmer Biomet Holdings Inc makes up approx 0.08% of Ohio National Investments’s portfolio.

Zimmer Biomet Holdings Inc opened for trading at $121.2 and hit $122.27 on the upside on Wednesday, eventually ending the session at $121.93, with a gain of 0.97% or 1.17 points. The heightened volatility saw the trading volume jump to 15,92,999 shares. Company has a market cap of $24,293 M.

On the company’s financial health, Zimmer Biomet Holdings Inc reported $2.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.93. The company had revenue of $1904.00 million for the quarter, compared to analysts expectations of $1878.31 million. The company’s revenue was up 67.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS.

Many Wall Street Analysts have commented on Zimmer Biomet Holdings Inc. Company shares were Reiterated by Barclays on Apr 29, 2016 to “Overweight”, Firm has raised the Price Target to $ 135 from a previous price target of $130 .Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 132 from a previous price target of $120 .Zimmer Biomet Holdings Inc was Initiated by Nomura to “Buy” on Mar 17, 2016.

Zimmer Biomet Holdings Inc. formerly Zimmer Holdings Inc. is a musculoskeletal healthcare company. The Company designs manufactures and markets orthopedic reconstructive products; sports medicine biologics extremities and trauma products; spine bone healing craniomaxillofacial and thoracic products; dental implants and related surgical products. The Company manages its operations through three geographic segments: the Americas comprising principally of the United States and includes other North Central and South American markets; Europe comprising principally of Europe and includes the Middle East and African markets; and Asia Pacific comprising primarily of Japan and includes other Asian and Pacific markets. The Company markets and sells products through three channels: direct to healthcare institutions such as hospitals or direct channel accounts; through stocking distributors and healthcare dealers and directly to dental practices and dental laboratories.

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