Geode Capital Management LLC Has $524.94 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Geode Capital Management LLC boosted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,879,385 shares of the medical equipment provider's stock after acquiring an additional 125,852 shares during the period. Geode Capital Management LLC owned 2.45% of Zimmer Biomet worth $524,942,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Dunhill Financial LLC increased its holdings in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 218 shares during the period. Ashton Thomas Securities LLC bought a new position in Zimmer Biomet in the third quarter valued at approximately $28,000. Bangor Savings Bank bought a new position in Zimmer Biomet in the third quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet during the second quarter valued at approximately $33,000. Finally, Brooklyn Investment Group bought a new stake in Zimmer Biomet during the third quarter worth $35,000. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James dropped their price objective 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. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Wells Fargo & Company upped their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Canaccord Genuity Group cut their target price 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. Finally, Barclays lowered their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an "underweight" rating for the company in a report on Thursday. Two investment 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $122.83.

Zimmer Biomet Trading Down 0.1 %

ZBH traded down $0.10 during trading on Friday, reaching $106.74. 1,186,438 shares of the stock traded hands, compared to its average volume of 1,485,392. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average is $107.65 and its 200 day moving average is $108.82. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The stock has a market capitalization of $21.25 billion, a PE ratio of 20.31, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts' consensus estimates of $1.74. The business had revenue of $1.82 billion during 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 firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

About Zimmer Biomet

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.