Advisors Asset Management Inc. Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Advisors Asset Management Inc. cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,556 shares of the medical equipment provider’s stock after selling 749 shares during the quarter. Advisors Asset Management Inc.’s holdings in Zimmer Biomet were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet in the third quarter worth about $28,000. Bangor Savings Bank purchased a new stake in shares of Zimmer Biomet in the third quarter worth about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the second quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Zimmer Biomet in the second quarter worth about $43,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Zimmer Biomet in the second quarter worth about $43,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Up 1.3 %

Shares of Zimmer Biomet 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. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90. The stock has a market capitalization of $22.31 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.04 and a beta of 1.02. The company’s 50 day moving average price is $107.07 and its 200-day moving average price is $109.49.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business earned $1.65 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of recent analyst reports. TD Cowen lowered their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Robert W. Baird lowered their target price 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. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group lowered 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 note on Tuesday, September 10th. Finally, Oppenheimer lowered their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. 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’s stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average 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.