The Manufacturers Life Insurance Company Sells 2,258 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

The Manufacturers Life Insurance Company decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 218,535 shares of the medical equipment provider’s stock after selling 2,258 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Zimmer Biomet worth $29,751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ceredex Value Advisors LLC grew its stake in shares of Zimmer Biomet by 18.0% during the third quarter. Ceredex Value Advisors LLC now owns 1,049,724 shares of the medical equipment provider’s stock valued at $143,160,000 after buying an additional 159,901 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Zimmer Biomet by 148.1% during the third quarter. Acadian Asset Management LLC now owns 3,764 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 2,247 shares during the last quarter. OPSEU Pension Plan Trust Fund grew its stake in shares of Zimmer Biomet by 4.8% during the third quarter. OPSEU Pension Plan Trust Fund now owns 7,503 shares of the medical equipment provider’s stock valued at $1,026,000 after buying an additional 345 shares during the last quarter. Probity Advisors Inc. grew its stake in shares of Zimmer Biomet by 4.1% during the third quarter. Probity Advisors Inc. now owns 4,552 shares of the medical equipment provider’s stock valued at $620,000 after buying an additional 181 shares during the last quarter. Finally, Courier Capital LLC grew its stake in shares of Zimmer Biomet by 3.3% during the third quarter. Courier Capital LLC now owns 5,091 shares of the medical equipment provider’s stock valued at $705,000 after buying an additional 161 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ZBH opened at $145.94 on Friday. Zimmer Biomet Holdings, Inc. has a 12 month low of $74.37 and a 12 month high of $165.15. The stock has a fifty day moving average price of $142.98 and a 200-day moving average price of $133.44. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. The firm has a market cap of $30.25 billion, a PE ratio of 912.18, a P/E/G ratio of 4.32 and a beta of 1.34.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, November 11th. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.07 by $0.74. Zimmer Biomet had a return on equity of 10.07% and a net margin of 0.52%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 4.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 29th. This represents a $0.96 annualized dividend and a dividend yield of 0.66%. Zimmer Biomet’s dividend payout ratio is presently 12.20%.

A number of research analysts have recently commented on the company. Cowen upped their target price on Zimmer Biomet from $130.00 to $150.00 and gave the company a “market perform” rating in a research note on Tuesday, October 27th. BTIG Research reiterated a “buy” rating and issued a $139.00 price target on shares of Zimmer Biomet in a report on Tuesday, August 4th. Wolfe Research initiated coverage on Zimmer Biomet in a report on Friday, September 11th. They issued an “outperform” rating and a $174.00 price target for the company. SVB Leerink boosted their price target on Zimmer Biomet from $160.00 to $167.00 and gave the company an “outperform” rating in a report on Monday, November 9th. Finally, Oppenheimer boosted their price target on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, November 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $153.42.

Zimmer Biomet Company Profile

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 in four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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