MML Investors Services LLC boosted its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 54.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,816 shares of the medical equipment provider’s stock after buying an additional 996 shares during the quarter. MML Investors Services LLC’s holdings in Zimmer Biomet were worth $370,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Whitener Capital Management Inc. bought a new position in Zimmer Biomet in the 3rd quarter valued at $109,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Zimmer Biomet by 5,200.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,007 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 988 shares during the last quarter. Azimuth Capital Management LLC bought a new position in Zimmer Biomet in the 2nd quarter valued at $201,000. Aries Wealth Management bought a new position in Zimmer Biomet in the 2nd quarter valued at $202,000. Finally, HighPoint Advisor Group LLC bought a new position in Zimmer Biomet in the 3rd quarter valued at $202,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.
ZBH stock opened at $109.92 on Friday. The firm has a market cap of $22.84 billion, a PE ratio of 13.69, a PEG ratio of 2.27 and a beta of 1.16. Zimmer Biomet Holdings Inc has a twelve month low of $104.28 and a twelve month high of $134.55. The company has a quick ratio of 0.96, a current ratio of 1.89 and a debt-to-equity ratio of 0.70.
Zimmer Biomet (NYSE:ZBH) last released its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.84 billion. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, equities research analysts predict that Zimmer Biomet Holdings Inc will post 7.64 earnings per share for the current fiscal year.
In other news, VP Chad F. Phipps sold 30,100 shares of the business’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.
ZBH has been the subject of several research analyst reports. Barclays initiated coverage on Zimmer Biomet in a research report on Monday, October 15th. They issued an “underweight” rating and a $131.00 price objective for the company. Jefferies Financial Group cut their price objective on Zimmer Biomet from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Needham & Company LLC downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 price objective for the company. in a research report on Monday, August 13th. BTIG Research reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Sunday, October 28th. Finally, Zacks Investment Research downgraded Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Zimmer Biomet has an average rating of “Hold” and an average price target of $134.90.
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About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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