Citigroup Inc. Has $16.84 Million Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Citigroup Inc. cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,987 shares of the medical equipment provider's stock after selling 21,898 shares during the period. Citigroup Inc. owned 0.08% of Zimmer Biomet worth $16,839,000 at the end of the most recent quarter.

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

Zimmer Biomet Trading Up 1.2 %

NYSE ZBH traded up $1.38 during mid-day trading on Thursday, reaching $112.02. 1,246,120 shares of the stock were exchanged, compared to its average volume of 1,734,101. The stock has a market cap of $22.30 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.03 and a beta of 1.02. 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 Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The stock has a 50 day simple moving average of $107.18 and a 200-day simple moving average of $109.50.

Zimmer Biomet (NYSE:ZBH - Get Free Report) 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. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $1.65 EPS. The firm's revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZBH shares. Oppenheimer cut their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a research report on Tuesday, October 15th. Evercore ISI reduced their price target on shares of 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. Wells Fargo & Company boosted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Raymond James reduced their target price on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, October 14th. Finally, Truist Financial upped their price objective on Zimmer Biomet from $112.00 to $117.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average 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.