Atom Investors LP Reduces Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Atom Investors LP reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 66.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,275 shares of the medical equipment provider's stock after selling 34,292 shares during the period. Atom Investors LP's holdings in Zimmer Biomet were worth $1,865,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet in the third quarter worth $28,000. Bangor Savings Bank purchased a new stake in Zimmer Biomet during the third quarter valued at about $31,000. Family Firm Inc. bought a new position in Zimmer Biomet during the second quarter worth about $33,000. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet in the third quarter worth about $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on ZBH shares. BTIG Research cut their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Truist Financial raised their target price on Zimmer Biomet from $112.00 to $117.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Finally, Evercore ISI decreased their price target on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $123.22.

Zimmer Biomet Price Performance

NYSE ZBH traded up $0.15 on Tuesday, reaching $110.65. 317,733 shares of the company's stock traded hands, compared to its average volume of 1,489,764. The stock has a market cap of $22.03 billion, a PE ratio of 21.01, a P/E/G ratio of 2.06 and a beta of 1.02. 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 simple moving average of $107.29 and a 200 day simple moving average of $109.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

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

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.