Advisory Services Network Lowers stake in Zimmer Biomet Holdings Inc (ZBH)

Zimmer Biomet Holdings Inc (ZBH) : Advisory Services Network reduced its stake in Zimmer Biomet Holdings Inc by 3.17% during the most recent quarter end. The investment management company now holds a total of 2,417 shares of Zimmer Biomet Holdings Inc which is valued at $316,627 after selling 79 shares in Zimmer Biomet Holdings Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Zimmer Biomet Holdings Inc makes up approximately 0.06% of Advisory Services Network’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in ZBH by selling 503 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 51,070 shares of ZBH which is valued at $6,690,170. Zimmer Biomet Holdings Inc makes up approx 0.14% of Exxonmobil Investment Management Inc Tx’s portfolio.Chevy Chase Trust Holdings reduced its stake in ZBH by selling 2,795 shares or 1.63% in the most recent quarter. The Hedge Fund company now holds 169,131 shares of ZBH which is valued at $22,080,052. Zimmer Biomet Holdings Inc makes up approx 0.12% of Chevy Chase Trust Holdings’s portfolio.Burns J W Co Incny boosted its stake in ZBH in the latest quarter, The investment management firm added 625 additional shares and now holds a total of 9,178 shares of Zimmer Biomet Holdings Inc which is valued at $1,198,188. Zimmer Biomet Holdings Inc makes up approx 0.37% of Burns J W Co Incny’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ZBH in the latest quarter, The investment management firm added 62,456 additional shares and now holds a total of 85,547 shares of Zimmer Biomet Holdings Inc which is valued at $11,168,161. Zimmer Biomet Holdings Inc makes up approx 0.05% of Bnp Paribas Arbitrage Sa’s portfolio.

Zimmer Biomet Holdings Inc opened for trading at $130.82 and hit $131.25 on the upside on Friday, eventually ending the session at $131, with a gain of 0.16% or 0.21 points. The heightened volatility saw the trading volume jump to 7,63,943 shares. Company has a market cap of $26,202 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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