Franklin Resources Inc. Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Franklin Resources Inc. lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 30.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 701,392 shares of the medical equipment provider's stock after selling 302,832 shares during the period. Franklin Resources Inc. owned 0.35% of Zimmer Biomet worth $73,527,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its stake in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet during the 3rd quarter worth about $28,000. Bangor Savings Bank purchased a new position in Zimmer Biomet during the 3rd quarter valued at about $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, Brooklyn Investment Group purchased a new stake in Zimmer Biomet during the third quarter worth about $35,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

ZBH traded up $1.23 during trading on Tuesday, hitting $108.08. 1,896,452 shares of the stock were exchanged, compared to its average volume of 1,488,031. The firm has a market capitalization of $21.52 billion, a P/E ratio of 20.54, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The stock has a fifty day moving average price of $107.78 and a two-hundred day moving average price of $108.60. 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 released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. Zimmer Biomet's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ZBH. 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 report on Thursday, October 31st. Oppenheimer lowered their target price 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. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Barclays reduced their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an "underweight" rating on the stock in a report on Thursday, December 12th. Finally, Raymond James lowered their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $123.28.

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.