D.A. Davidson & CO. Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

D.A. Davidson & CO. trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 22.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,732 shares of the medical equipment provider’s stock after selling 2,574 shares during the period. D.A. Davidson & CO.’s holdings in Zimmer Biomet were worth $943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ZBH. American Century Companies Inc. boosted its stake in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the period. Equity Investment Corp purchased a new position in shares of Zimmer Biomet in the third quarter worth $70,104,000. Magnetar Financial LLC boosted 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 acquiring an additional 484,816 shares during the last quarter. Van ECK Associates Corp increased its holdings in Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after acquiring an additional 411,163 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Zimmer Biomet in the 3rd quarter worth $41,588,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $112.10 on Monday. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.06 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The stock has a fifty day simple moving average of $107.29 and a two-hundred day simple moving average of $109.30.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. BTIG Research cut their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Oppenheimer reduced their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, TD Cowen decreased their price target 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.22.

Zimmer Biomet 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.