1st Source Bank Lowers stake in Zimmer Biomet Holdings Inc (ZBH)

Zimmer Biomet Holdings Inc (ZBH) : 1st Source Bank reduced its stake in Zimmer Biomet Holdings Inc by 11.5% during the most recent quarter end. The investment management company now holds a total of 393,251 shares of Zimmer Biomet Holdings Inc which is valued at $45,526,668 after selling 51,104 shares in Zimmer Biomet Holdings Inc , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Zimmer Biomet Holdings Inc makes up approximately 4.93% of 1st Source Bank’s portfolio.

Zimmer Biomet Holdings Inc opened for trading at $115.77 and hit $116.13 on the upside on Monday, eventually ending the session at $115.93, with a gain of 0.14% or 0.16 points. The heightened volatility saw the trading volume jump to 16,32,685 shares. Company has a market cap of $23,051 M.

Other Hedge Funds, Including , Glenmede Trust Co Na reduced its stake in ZBH by selling 316 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 41,382 shares of ZBH which is valued at $4,790,794. Zimmer Biomet Holdings Inc makes up approx 0.03% of Glenmede Trust Co Na’s portfolio. Horan Capital Management sold out all of its stake in ZBH during the most recent quarter. The investment firm sold 1,095 shares of ZBH which is valued $125,662. Firstmerit Bank N A Trustee sold out all of its stake in ZBH during the most recent quarter. The investment firm sold 2,190 shares of ZBH which is valued $251,324.Jacobs Coca boosted its stake in ZBH in the latest quarter, The investment management firm added 311 additional shares and now holds a total of 31,508 shares of Zimmer Biomet Holdings Inc which is valued at $3,592,857. Zimmer Biomet Holdings Inc makes up approx 0.85% of Jacobs Coca’s portfolio.Oakbrook Investments reduced its stake in ZBH by selling 9,300 shares or 48.5% in the most recent quarter. The Hedge Fund company now holds 9,875 shares of ZBH which is valued at $1,126,046. Zimmer Biomet Holdings Inc makes up approx 0.07% of Oakbrook Investments’s portfolio.

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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