State Street Corp Lowers Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

State Street Corp lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,083,882 shares of the medical equipment provider's stock after selling 132,087 shares during the period. State Street Corp owned approximately 4.56% of Zimmer Biomet worth $982,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BLB&B Advisors LLC boosted its position in shares of Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider's stock valued at $529,000 after buying an additional 100 shares during the last quarter. FWG Holdings LLC raised its holdings in shares of Zimmer Biomet by 2.9% during the third quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider's stock valued at $372,000 after purchasing an additional 101 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in Zimmer Biomet by 3.5% in the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider's stock worth $330,000 after purchasing an additional 103 shares during the last quarter. M&R Capital Management Inc. grew its position in Zimmer Biomet by 14.1% in the 3rd quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider's stock worth $92,000 after purchasing an additional 105 shares during the period. Finally, Mill Creek Capital Advisors LLC raised its stake in Zimmer Biomet by 5.1% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider's stock valued at $238,000 after buying an additional 106 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 1.0 %

Shares of ZBH stock 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 1,403,075. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The business has a 50 day moving average price of $107.52 and a 200 day moving average price of $109.02. The company has a market cap of $21.51 billion, a PE ratio of 20.54, a P/E/G ratio of 1.99 and a beta of 1.02. 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 (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZBH. JPMorgan Chase & Co. lowered their target price on Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Canaccord Genuity Group decreased their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, September 10th. Raymond James cut their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. TD Cowen lowered their target price on Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating on the stock in a research report on Friday, September 6th. Finally, Wolfe Research assumed coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a "peer perform" rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.