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

The Manufacturers Life Insurance Company reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 about 0.11% of Zimmer Biomet worth $29,751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZBH. Crewe Advisors LLC increased its stake in Zimmer Biomet by 65.0% during the third quarter. Crewe Advisors LLC now owns 198 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 78 shares during the last quarter. Shine Investment Advisory Services Inc. increased its stake in Zimmer Biomet by 53.5% during the second quarter. Shine Investment Advisory Services Inc. now owns 241 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 84 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in Zimmer Biomet during the second quarter worth approximately $36,000. Ancora Advisors LLC increased its stake in Zimmer Biomet by 39.4% during the second quarter. Ancora Advisors LLC now owns 354 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 100 shares during the last quarter. Finally, Rosenberg Matthew Hamilton bought a new stake in Zimmer Biomet during the second quarter worth approximately $45,000. 87.17% of the stock is currently owned by institutional investors.

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

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, November 11th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.74. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.71 billion. Zimmer Biomet had a return on equity of 10.07% and a net margin of 0.52%. Zimmer Biomet’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 4.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders 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 dividend on an annualized basis and a yield of 0.66%. Zimmer Biomet’s dividend payout ratio is currently 12.20%.

A number of research analysts have recently commented on the company. SVB Leerink upped their target price on Zimmer Biomet from $160.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, November 9th. Wolfe Research assumed coverage on Zimmer Biomet in a research note on Friday, September 11th. They set an “outperform” rating and a $174.00 target price on the stock. Oppenheimer upped their target price on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, November 9th. Raymond James upped their target price on Zimmer Biomet from $150.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Monday, October 12th. Finally, Needham & Company LLC assumed coverage on Zimmer Biomet in a research note on Tuesday, August 4th. They set a “strong-buy” rating and a $162.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Zimmer Biomet currently has an average rating of “Buy” and an average 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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