Poplar Forest Capital Lowers stake in Zimmer Biomet Holdings Inc (ZBH)

Zimmer Biomet Holdings Inc (ZBH) : Poplar Forest Capital reduced its stake in Zimmer Biomet Holdings Inc by 9.72% during the most recent quarter end. The investment management company now holds a total of 288,562 shares of Zimmer Biomet Holdings Inc which is valued at $37,322,609 after selling 31,062 shares in Zimmer Biomet Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Zimmer Biomet Holdings Inc makes up approximately 3.23% of Poplar Forest Capital’s portfolio.

Other Hedge Funds, Including , Oppenheimer Co Inc boosted its stake in ZBH in the latest quarter, The investment management firm added 529 additional shares and now holds a total of 5,665 shares of Zimmer Biomet Holdings Inc which is valued at $733,618. Zimmer Biomet Holdings Inc makes up approx 0.02% of Oppenheimer Co Inc’s portfolio.Neuberger Berman Group reduced its stake in ZBH by selling 61,823 shares or 12.76% in the most recent quarter. The Hedge Fund company now holds 422,581 shares of ZBH which is valued at $55,527,143. Zimmer Biomet Holdings Inc makes up approx 0.07% of Neuberger Berman Group’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in ZBH in the latest quarter, The investment management firm added 1,007 additional shares and now holds a total of 14,924 shares of Zimmer Biomet Holdings Inc which is valued at $1,957,133. Zimmer Biomet Holdings Inc makes up approx 0.06% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Parsec Financial Management boosted its stake in ZBH in the latest quarter, The investment management firm added 1,045 additional shares and now holds a total of 23,031 shares of Zimmer Biomet Holdings Inc which is valued at $3,020,285. Zimmer Biomet Holdings Inc makes up approx 0.28% of Parsec Financial Management’s portfolio.

Zimmer Biomet Holdings Inc opened for trading at $129.71 and hit $130.96 on the upside on Monday, eventually ending the session at $130.59, with a gain of 0.83% or 1.08 points. The heightened volatility saw the trading volume jump to 8,56,928 shares. Company has a market cap of $26,120 M.

On the company’s financial health, Zimmer Biomet Holdings Inc reported $2.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.97. The company had revenue of $1934.00 million for the quarter, compared to analysts expectations of $1898.18 million. The company’s revenue was up 65.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS.

Many Wall Street Analysts have commented on Zimmer Biomet Holdings Inc. SunTrust Initiated Zimmer Biomet Holdings Inc on Aug 11, 2016 to “Buy”, Price Target of the shares are set at $155.Company shares were Reiterated by Needham on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 150 from a previous price target of $143 .Company shares were Reiterated by Needham on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 143 from a previous price target of $134 .

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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