Verition Fund Management LLC Sells 95,314 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Verition Fund Management LLC cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 96.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,559 shares of the medical equipment provider’s stock after selling 95,314 shares during the period. Verition Fund Management LLC’s holdings in Zimmer Biomet were worth $384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Ashton Thomas Securities LLC bought a new stake in Zimmer Biomet during the 3rd quarter worth about $28,000. Bangor Savings Bank bought a new stake in shares of Zimmer Biomet in the 3rd quarter valued at about $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $33,000. Brooklyn Investment Group bought a new stake in shares of Zimmer Biomet in the 3rd quarter valued at about $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $43,000. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Down 0.1 %

Zimmer Biomet stock opened at $106.84 on Friday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The stock has a market cap of $21.27 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The firm’s 50-day simple moving average is $107.59 and its 200 day simple moving average is $108.83. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $1.80 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Analysts Set New Price Targets

ZBH has been the topic of a number of research analyst reports. Oppenheimer dropped their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Barclays dropped their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday. Canaccord Genuity Group dropped their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. BTIG Research decreased their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $122.83.

Zimmer Biomet Company 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.