BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 4,955 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 12.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 34,327 shares of the medical equipment provider’s stock after selling 4,955 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Zimmer Biomet were worth $3,706,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ZBH. American Century Companies Inc. raised its holdings in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after buying an additional 722,041 shares during the period. Equity Investment Corp purchased a new stake in Zimmer Biomet in the third quarter worth $70,104,000. Magnetar Financial LLC lifted its position in shares of Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after purchasing an additional 484,816 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Zimmer Biomet by 12.4% during the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after purchasing an additional 411,163 shares during the period. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of Zimmer Biomet in the third quarter worth about $41,588,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $110.74 on Wednesday. The firm has a market capitalization of $22.05 billion, a P/E ratio of 21.05, a PEG ratio of 2.03 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $107.41 and a 200 day moving average price of $109.15.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Royal Bank of Canada lifted their target price on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. TD Cowen dropped their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $123.22.

About Zimmer Biomet

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.