The Manufacturers Life Insurance Company Trims Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

The Manufacturers Life Insurance Company cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 303,023 shares of the medical equipment provider’s stock after selling 9,511 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Zimmer Biomet were worth $32,711,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. BLB&B Advisors LLC boosted its stake in Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after buying an additional 100 shares during the period. FWG Holdings LLC boosted its position in shares of Zimmer Biomet by 2.9% during the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after acquiring an additional 101 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of Zimmer Biomet by 3.5% during the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after purchasing an additional 103 shares in the last quarter. M&R Capital Management Inc. increased its position in shares of Zimmer Biomet by 14.1% in the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock worth $92,000 after purchasing an additional 105 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC raised its stake in Zimmer Biomet by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 106 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ZBH. JPMorgan Chase & Co. cut their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Robert W. Baird reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. UBS Group cut their price objective on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group reduced their price objective on 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, Wells Fargo & Company boosted their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $112.10 on Friday. The firm has a market cap of $22.32 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The company’s fifty day simple moving average is $107.29 and its two-hundred day simple moving average is $109.45. 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 Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced 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 company had revenue of $1.82 billion for 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. Zimmer Biomet’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

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.