BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,327 shares of the medical equipment provider's stock after selling 4,955 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Zimmer Biomet were worth $3,706,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ZBH. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet in the 3rd quarter worth about $28,000. Bangor Savings Bank purchased a new stake in Zimmer Biomet in the third quarter worth $31,000. Family Firm Inc. purchased a new stake in Zimmer Biomet in the second quarter worth $33,000. Brooklyn Investment Group purchased a new position in Zimmer Biomet in the 3rd quarter worth about $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Zimmer Biomet in the 2nd quarter worth about $43,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of ZBH traded down $0.13 during mid-day trading on Wednesday, reaching $110.61. The company had a trading volume of 1,438,157 shares, compared to its average volume of 1,493,587. 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 52-week low of $101.47 and a 52-week high of $133.90. The stock has a 50 day moving average of $107.49 and a two-hundred day moving average of $109.16. The stock has a market capitalization of $22.02 billion, a P/E ratio of 21.03, a PEG ratio of 2.03 and a beta of 1.02.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on ZBH shares. Wells Fargo & Company raised 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. Wolfe Research began coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They set a "peer perform" rating on the stock. BTIG Research cut their price target on Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. Robert W. Baird cut their price target on Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI cut their target price on 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 investment 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $123.22.

Zimmer Biomet 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.