Fmr LLC Purchases 162,384 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

FMR LLC raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 27.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750,336 shares of the medical equipment provider's stock after acquiring an additional 162,384 shares during the quarter. FMR LLC owned approximately 0.38% of Zimmer Biomet worth $80,999,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. raised its position in Zimmer Biomet by 12.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,806 shares of the medical equipment provider's stock worth $195,000 after purchasing an additional 195 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Zimmer Biomet by 6.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 25,133 shares of the medical equipment provider's stock worth $2,713,000 after purchasing an additional 1,618 shares during the period. Larson Financial Group LLC boosted its stake in shares of Zimmer Biomet by 61.9% in the 3rd quarter. Larson Financial Group LLC now owns 3,407 shares of the medical equipment provider's stock valued at $368,000 after purchasing an additional 1,302 shares during the last quarter. Cerity Partners LLC increased its position in shares of Zimmer Biomet by 28.7% during the third quarter. Cerity Partners LLC now owns 40,307 shares of the medical equipment provider's stock worth $4,351,000 after buying an additional 8,999 shares during the period. Finally, Studio Investment Management LLC raised its stake in Zimmer Biomet by 52.1% during the third quarter. Studio Investment Management LLC now owns 17,373 shares of the medical equipment provider's stock worth $1,880,000 after buying an additional 5,953 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Robert W. Baird lowered their target price on Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Truist Financial increased their price target on Zimmer Biomet from $112.00 to $117.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Wells Fargo & Company lifted 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 note on Thursday, October 31st. Finally, BTIG Research cut their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $123.22.

Zimmer Biomet Stock Down 1.0 %

NYSE:ZBH traded down $1.13 on Friday, hitting $108.03. The stock had a trading volume of 1,141,079 shares, compared to its average volume of 1,489,738. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The firm's fifty day simple moving average is $107.52 and its two-hundred day simple moving average is $109.16. The stock has a market cap of $21.51 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate 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 business's revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. 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.