Bridgewater Associates LP Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bridgewater Associates LP lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 48.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,627 shares of the medical equipment provider’s stock after selling 170,948 shares during the quarter. Bridgewater Associates LP owned 0.09% of Zimmer Biomet worth $19,499,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after acquiring an additional 411,163 shares during the period. Victory Capital Management Inc. boosted its position in shares of Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after acquiring an additional 211,637 shares during the last quarter. Boston Partners grew its holdings in shares of Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Zimmer Biomet by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock worth $277,357,000 after purchasing an additional 9,990 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial increased their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. BTIG Research cut their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Evercore ISI reduced their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $112.06 on Thursday. The business has a 50-day simple moving average of $107.07 and a 200-day simple moving average of $109.49. The company has a market cap of $22.31 billion, a PE ratio of 21.30, a P/E/G ratio of 2.03 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. 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 announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion for 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 company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

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.