Bridgewater Associates LP Sells 170,948 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bridgewater Associates LP lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 48.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,627 shares of the medical equipment provider's stock after selling 170,948 shares during the period. Bridgewater Associates LP owned approximately 0.09% of Zimmer Biomet worth $19,499,000 as of its most recent filing with the Securities and Exchange Commission.

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

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $1.38 during trading on Thursday, hitting $112.02. 1,246,120 shares of the company were exchanged, compared to its average volume of 1,734,101. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90. The stock has a 50 day moving average of $107.18 and a 200 day moving average of $109.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company has a market cap of $22.30 billion, a PE ratio of 21.30, a P/E/G ratio of 2.03 and a beta of 1.02.

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

Wall Street Analyst Weigh In

ZBH has been the topic of several analyst reports. BTIG Research cut their target price on Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a research report on Thursday, October 3rd. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. cut their price target 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. Wells Fargo & Company lifted their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Finally, Oppenheimer reduced their target price on Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and an average 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.