State Street Corp Lowers Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

State Street Corp decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,083,882 shares of the medical equipment provider’s stock after selling 132,087 shares during the quarter. State Street Corp’s holdings in Zimmer Biomet were worth $982,762,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ZBH. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet in the 3rd quarter worth approximately $28,000. Bangor Savings Bank purchased a new stake in shares of Zimmer Biomet during the 3rd quarter valued at $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet during the 2nd quarter worth $33,000. Brooklyn Investment Group purchased a new position in Zimmer Biomet in the third quarter worth $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet in the second quarter valued at $43,000. 88.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZBH shares. Evercore ISI cut their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Truist Financial increased their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Wolfe Research started coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Two 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 data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $108.03 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a 50-day simple moving average of $107.52 and a two-hundred day simple moving average of $109.02. 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 $21.51 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02.

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