Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 303,023 shares of the medical equipment provider's stock after selling 9,511 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.15% of Zimmer Biomet worth $32,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Gradient Investments LLC boosted its position in shares of Zimmer Biomet by 17.3% in the 2nd quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider's stock valued at $14,147,000 after purchasing an additional 19,224 shares during the period. National Pension Service boosted its holdings in shares of Zimmer Biomet by 3.8% in the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider's stock valued at $39,893,000 after acquiring an additional 13,612 shares during the period. Swedbank AB acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $2,740,000. River Global Investors LLP grew its position in shares of Zimmer Biomet by 31.3% during the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider's stock worth $2,276,000 after acquiring an additional 5,030 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its holdings in shares of Zimmer Biomet by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 155,254 shares of the medical equipment provider's stock valued at $16,711,000 after acquiring an additional 6,623 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded up $0.08 during trading hours on Friday, hitting $112.10. The stock had a trading volume of 504,058 shares, compared to its average volume of 1,527,881. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.06 and a beta of 1.02. The stock's fifty day moving average is $107.29 and its two-hundred day moving average is $109.38. 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 (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts' consensus estimates of $1.74. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. As a group, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZBH has been the topic of a number of recent research reports. 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. Royal Bank of Canada upped their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an "outperform" rating in a research note 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 on the stock in a research note on Thursday, August 8th. Oppenheimer cut their price target on Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a research note on Tuesday, October 15th. Finally, UBS Group lowered their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating on the stock in a research report on Thursday, August 8th. Two research 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. According to data from MarketBeat, Zimmer Biomet 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.