National Bank of Canada FI Raises Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

National Bank of Canada FI lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 78.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 206,665 shares of the medical equipment provider's stock after purchasing an additional 90,972 shares during the period. National Bank of Canada FI owned about 0.10% of Zimmer Biomet worth $22,309,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. iA Global Asset Management Inc. boosted its position in Zimmer Biomet by 7.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 11,020 shares of the medical equipment provider's stock valued at $1,190,000 after buying an additional 779 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Zimmer Biomet by 1.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 63,533 shares of the medical equipment provider's stock worth $6,662,000 after purchasing an additional 1,109 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Zimmer Biomet by 12.3% in the 3rd quarter. Wellington Management Group LLP now owns 37,068 shares of the medical equipment provider's stock worth $4,001,000 after purchasing an additional 4,056 shares during the period. Wahed Invest LLC boosted its stake in shares of Zimmer Biomet by 10.3% during the 3rd quarter. Wahed Invest LLC now owns 4,964 shares of the medical equipment provider's stock valued at $536,000 after purchasing an additional 464 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in Zimmer Biomet by 8.1% in the third quarter. Quantinno Capital Management LP now owns 11,694 shares of the medical equipment provider's stock worth $1,262,000 after buying an additional 873 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of ZBH stock traded down $1.07 on Tuesday, reaching $108.40. The stock had a trading volume of 1,178,034 shares, compared to its average volume of 1,487,399. The stock has a market cap of $21.58 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.99 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 Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The company has a 50 day simple moving average of $107.55 and a 200 day simple moving average of $108.90.

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 for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business's quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James decreased their target price on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a "peer perform" rating on the stock. Evercore ISI decreased their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company upped their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Finally, TD Cowen lowered their price objective on Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating for the company in a research note on Friday, September 6th. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.