Beacon Financial Group Lowers stake in Zimmer Biomet Holdings Inc (ZBH)

Zimmer Biomet Holdings Inc (ZBH) : Beacon Financial Group reduced its stake in Zimmer Biomet Holdings Inc by 1.25% during the most recent quarter end. The investment management company now holds a total of 5,853 shares of Zimmer Biomet Holdings Inc which is valued at $628,437 after selling 74 shares in Zimmer Biomet Holdings Inc according to a report filed by the company on Apr 1, 2016 with the SEC.Zimmer Biomet Holdings Inc makes up approximately 0.14% of Beacon Financial Group’s portfolio.

On the company’s financial health, Zimmer Biomet Holdings Inc reported $2.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $2.04. The company had revenue of $1933.60 million for the quarter, compared to analysts expectations of $1954.47 million. The company’s revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS.

Many Wall Street Analysts have commented on Zimmer Biomet Holdings Inc. Zimmer Biomet Holdings Inc was Initiated by Nomura to “Buy” on Mar 17, 2016. Zimmer Biomet Holdings Inc was Downgraded by Argus to ” Hold” on Mar 4, 2016. Shares were Reiterated by Oppenheimer on Feb 8, 2016 to “Outperform” and Lowered the Price Target to $ 120 from a previous price target of $124 .

Zimmer Biomet Holdings Inc opened for trading at $109.06 and hit $109.71 on the upside on Monday, eventually ending the session at $109.3, with a gain of 0.31% or 0.34 points. The heightened volatility saw the trading volume jump to 13,96,002 shares. Company has a market cap of $21,733 M.

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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