Quest Partners LLC Trims Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Quest Partners LLC trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 42.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,561 shares of the medical equipment provider's stock after selling 7,817 shares during the period. Quest Partners LLC's holdings in Zimmer Biomet were worth $1,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZBH. Equity Investment Corp acquired a new position in Zimmer Biomet in the third quarter valued at $70,104,000. Swiss National Bank boosted its position in Zimmer Biomet by 0.6% during the third quarter. Swiss National Bank now owns 610,700 shares of the medical equipment provider's stock worth $65,925,000 after acquiring an additional 3,500 shares during the last quarter. AM Squared Ltd grew its position in shares of Zimmer Biomet by 75.0% in the third quarter. AM Squared Ltd now owns 700 shares of the medical equipment provider's stock valued at $76,000 after purchasing an additional 300 shares during the period. Natixis Advisors LLC raised its stake in Zimmer Biomet by 24.7% during the third quarter. Natixis Advisors LLC now owns 63,651 shares of the medical equipment provider's stock worth $6,871,000 after purchasing an additional 12,602 shares during the period. Finally, Simplify Asset Management Inc. raised its holdings in Zimmer Biomet by 73.5% in the third quarter. Simplify Asset Management Inc. now owns 3,535 shares of the medical equipment provider's stock valued at $382,000 after buying an additional 1,497 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ZBH. BTIG Research cut their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. Robert W. Baird decreased their target price on Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Evercore ISI decreased their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, UBS Group decreased their target price on Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Zimmer Biomet has a consensus rating of "Hold" and an average price target of $123.22.

Zimmer Biomet Stock Down 0.0 %

Shares of ZBH traded down $0.04 during trading hours on Thursday, hitting $109.23. The stock had a trading volume of 194,678 shares, compared to its average volume of 1,491,868. The firm has a 50 day simple moving average of $106.65 and a 200-day simple moving average of $109.86. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The firm has a market capitalization of $21.74 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $1.65 EPS. The company's quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet's dividend payout ratio is currently 18.25%.

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.