Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Cut by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 30.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 701,392 shares of the medical equipment provider’s stock after selling 302,832 shares during the period. Franklin Resources Inc.’s holdings in Zimmer Biomet were worth $73,527,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Dunhill Financial LLC boosted its position in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet during the 3rd quarter worth about $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the 3rd quarter valued at about $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $33,000. Finally, Brooklyn Investment Group acquired a new position in Zimmer Biomet in the third quarter worth approximately $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Canaccord Genuity Group reduced their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. TD Cowen lowered their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, Evercore ISI reduced their target price 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. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $122.83.

Zimmer Biomet Stock Up 0.1 %

NYSE ZBH opened at $106.85 on Tuesday. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The stock has a market cap of $21.27 billion, a PE ratio of 20.31, a PEG ratio of 1.96 and a beta of 1.02. The firm has a 50-day simple moving average of $107.78 and a 200 day simple moving average of $108.60. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. On average, research analysts forecast 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.