Sio Capital Management LLC Sells 27,793 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sio Capital Management LLC trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,511 shares of the medical equipment provider’s stock after selling 27,793 shares during the quarter. Zimmer Biomet accounts for about 5.5% of Sio Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Sio Capital Management LLC’s holdings in Zimmer Biomet were worth $13,765,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ZBH. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet during the third quarter worth approximately $28,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet in the third quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet during the 2nd quarter worth $33,000. Brooklyn Investment Group bought a new position in Zimmer Biomet in the 3rd quarter worth $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Zimmer Biomet during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Ratings Changes

ZBH has been the topic of several research analyst reports. BTIG Research dropped their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Truist Financial boosted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, UBS Group lowered their price target on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $112.02 on Friday. The firm has a market cap of $22.30 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The stock has a 50-day moving average price of $107.18 and a 200 day moving average price of $109.50.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.