The Manufacturers Life Insurance Company Sells 9,511 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

The Manufacturers Life Insurance Company reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,023 shares of the medical equipment provider’s stock after selling 9,511 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.15% of Zimmer Biomet worth $32,711,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZBH. Gradient Investments LLC increased its position 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 worth $14,147,000 after acquiring an additional 19,224 shares in the last quarter. National Pension Service increased its holdings in Zimmer Biomet by 3.8% during the 3rd quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after purchasing an additional 13,612 shares in the last quarter. Swedbank AB purchased a new stake in shares of Zimmer Biomet in the first quarter worth approximately $2,740,000. River Global Investors LLP lifted its holdings in shares of Zimmer Biomet by 31.3% in the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock valued at $2,276,000 after purchasing an additional 5,030 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd boosted its position in shares of Zimmer Biomet by 4.5% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 155,254 shares of the medical equipment provider’s stock valued at $16,711,000 after buying an additional 6,623 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ZBH. Wolfe Research started coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Oppenheimer dropped their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Robert W. Baird reduced their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group dropped 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, Royal Bank of Canada upped their target price on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Price Performance

ZBH opened at $112.10 on Friday. The firm has a 50-day moving average price of $107.29 and a 200-day moving average price of $109.45. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. 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 company has a market capitalization of $22.32 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.06 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 EPS. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS 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.