Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Position Lessened by Assetmark Inc.

Assetmark Inc. trimmed its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 25.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,141 shares of the medical equipment provider's stock after selling 6,798 shares during the quarter. Assetmark Inc.'s holdings in Zimmer Biomet were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider's stock worth $1,404,638,000 after buying an additional 1,215,935 shares during the period. American Century Companies Inc. grew its position in shares of Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock worth $701,521,000 after acquiring an additional 722,041 shares during the last quarter. Boston Partners increased its holdings in shares of Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider's stock worth $437,413,000 after acquiring an additional 691,191 shares during the period. Magnetar Financial LLC lifted its position in Zimmer Biomet by 58.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider's stock valued at $142,203,000 after purchasing an additional 484,816 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider's stock valued at $391,239,000 after purchasing an additional 411,163 shares during the period. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $1.12 during mid-day trading on Thursday, reaching $108.85. The company had a trading volume of 2,057,881 shares, compared to its average volume of 1,491,112. The company has a 50-day moving average price of $106.04 and a two-hundred day moving average price of $110.19. The stock has a market cap of $21.67 billion, a PE ratio of 20.91, a P/E/G ratio of 2.02 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts' consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter last year, the business posted $1.65 EPS. Zimmer Biomet's revenue was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.88%. The ex-dividend date was Monday, September 30th. Zimmer Biomet's payout ratio is 18.25%.

Analyst Ratings Changes

ZBH has been the topic of a number of recent analyst reports. TD Cowen cut their price target on Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating on the stock in a report on Friday, September 6th. Wolfe Research initiated coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They issued a "peer perform" rating on the stock. BTIG Research reduced their price target on Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company increased their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Finally, Evercore ISI cut their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $123.22.

Zimmer Biomet Company Profile

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.