Wellington Management Group LLP Raises Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wellington Management Group LLP lifted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 12.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,068 shares of the medical equipment provider’s stock after purchasing an additional 4,056 shares during the quarter. Wellington Management Group LLP’s holdings in Zimmer Biomet were worth $4,001,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ZBH. Assenagon Asset Management S.A. lifted its position in Zimmer Biomet by 3.5% in the second quarter. Assenagon Asset Management S.A. now owns 24,286 shares of the medical equipment provider’s stock worth $2,636,000 after buying an additional 815 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Zimmer Biomet by 4.9% in the 2nd quarter. Raymond James & Associates now owns 108,105 shares of the medical equipment provider’s stock worth $11,733,000 after acquiring an additional 5,039 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of Zimmer Biomet by 32.7% during the 2nd quarter. Dakota Wealth Management now owns 9,414 shares of the medical equipment provider’s stock worth $1,022,000 after purchasing an additional 2,321 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Zimmer Biomet by 4.0% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,063 shares of the medical equipment provider’s stock valued at $1,746,000 after purchasing an additional 617 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Zimmer Biomet in the 2nd quarter worth about $283,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 1.2 %

Shares of Zimmer Biomet stock opened at $108.08 on Wednesday. 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 market cap of $21.52 billion, a P/E ratio of 20.55, a PEG ratio of 1.96 and a beta of 1.02. The firm’s 50 day moving average price is $107.90 and its 200-day moving average price is $108.55. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) 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 analyst estimates of $1.80 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. BTIG Research lowered their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Oppenheimer lowered their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company raised their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $123.28.

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.