Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP decreased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 48.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 180,627 shares of the medical equipment provider’s stock after selling 170,948 shares during the period. Bridgewater Associates LP’s holdings in Zimmer Biomet were worth $19,499,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet in the third quarter valued at $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet in the 3rd quarter valued at about $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet during the second quarter worth approximately $33,000. Brooklyn Investment Group acquired a new position in Zimmer Biomet during the third quarter worth approximately $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Zimmer Biomet in the second quarter valued at approximately $43,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $112.06 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The stock has a market cap of $22.31 billion, a PE ratio of 21.30, a P/E/G ratio of 2.03 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 $107.07 and a 200 day moving average price of $109.49.

Zimmer Biomet (NYSE:ZBH) 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. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ZBH shares. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Robert W. Baird dropped their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Raymond James reduced their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Evercore ISI lowered their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Company 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.