Verition Fund Management LLC Reduces Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Verition Fund Management LLC lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 96.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,559 shares of the medical equipment provider's stock after selling 95,314 shares during the period. Verition Fund Management LLC's holdings in Zimmer Biomet were worth $384,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Zimmer Biomet in the second quarter valued at approximately $43,000. Assenagon Asset Management S.A. grew its holdings in Zimmer Biomet by 3.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 24,286 shares of the medical equipment provider's stock worth $2,636,000 after acquiring an additional 815 shares during the last quarter. Rovin Capital UT ADV increased its position in shares of Zimmer Biomet by 13.6% in the second quarter. Rovin Capital UT ADV now owns 5,397 shares of the medical equipment provider's stock valued at $586,000 after acquiring an additional 645 shares during the period. Gradient Investments LLC raised its stake in shares of Zimmer Biomet by 17.3% during the second quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider's stock valued at $14,147,000 after acquiring an additional 19,224 shares during the last quarter. Finally, Boomfish Wealth Group LLC boosted its holdings in shares of Zimmer Biomet by 19.5% during the second quarter. Boomfish Wealth Group LLC now owns 11,387 shares of the medical equipment provider's stock worth $1,236,000 after purchasing an additional 1,855 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Down 0.1 %

Zimmer Biomet stock traded down $0.10 during mid-day trading on Friday, reaching $106.74. The stock had a trading volume of 1,186,438 shares, compared to its average volume of 1,485,392. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a 50-day moving average price of $107.65 and a two-hundred day moving average price of $108.82. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.96 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 (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results 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 business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 earnings per share. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZBH. Wolfe Research assumed coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a "peer perform" rating on the stock. BTIG Research reduced their target price on Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Barclays reduced their price objective on shares of Zimmer Biomet from $125.00 to $118.00 and set an "underweight" rating on the stock in a research report on Thursday. Finally, Evercore ISI dropped 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 report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $122.83.

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.