Massachusetts Financial Services Co buys $1,842.4 Million stake in Zimmer Biomet Holdings Inc (ZBH)

Zimmer Biomet Holdings Inc (ZBH) : Massachusetts Financial Services Co scooped up 1,463,255 additional shares in Zimmer Biomet Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 15,687,678 shares of Zimmer Biomet Holdings Inc which is valued at $1,842.4 Million.Zimmer Biomet Holdings Inc makes up approximately 0.95% of Massachusetts Financial Services Co’s portfolio.

Other Hedge Funds, Including , Jarislowsky Fraser Ltd reduced its stake in ZBH by selling 8,025 shares or 4.88% in the most recent quarter. The Hedge Fund company now holds 156,563 shares of ZBH which is valued at $18.4 Million. Zimmer Biomet Holdings Inc makes up approx 0.13% of Jarislowsky Fraser Ltd’s portfolio.Blackrock Advisors boosted its stake in ZBH in the latest quarter, The investment management firm added 183,884 additional shares and now holds a total of 1,153,105 shares of Zimmer Biomet Holdings Inc which is valued at $135.4 Million. Zimmer Biomet Holdings Inc makes up approx 0.15% of Blackrock Advisors’s portfolio.Birch Hill Investment Advisors boosted its stake in ZBH in the latest quarter, The investment management firm added 810 additional shares and now holds a total of 272,323 shares of Zimmer Biomet Holdings Inc which is valued at $32 Million. Zimmer Biomet Holdings Inc makes up approx 3.34% of Birch Hill Investment Advisors’s portfolio.Nationwide Fund Advisors boosted its stake in ZBH in the latest quarter, The investment management firm added 22,116 additional shares and now holds a total of 280,328 shares of Zimmer Biomet Holdings Inc which is valued at $32.3 Million. Zimmer Biomet Holdings Inc makes up approx 0.14% of Nationwide Fund Advisors’s portfolio. Harel Insurance Investments Financial Services Ltd. added ZBH to its portfolio by purchasing 170 company shares during the most recent quarter which is valued at $19,618.

Zimmer Biomet Holdings Inc opened for trading at $118.78 and hit $119.71 on the upside on Friday, eventually ending the session at $119.33, with a gain of 0.96% or 1.14 points. The heightened volatility saw the trading volume jump to 16,50,727 shares. Company has a market cap of $23,775 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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