BNP Paribas Financial Markets Sells 54,250 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

BNP Paribas Financial Markets reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 26.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,037 shares of the medical equipment provider’s stock after selling 54,250 shares during the quarter. BNP Paribas Financial Markets’ holdings in Zimmer Biomet were worth $16,628,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet during the 3rd quarter worth $28,000. Bangor Savings Bank acquired a new stake in Zimmer Biomet in the third quarter worth about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet during the second quarter worth about $33,000. Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet during the third quarter valued at about $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Zimmer Biomet in the 2nd quarter valued at approximately $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. 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 note on Friday, September 6th. Wolfe Research assumed coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating for the company. Finally, Robert W. Baird dropped their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $123.22.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $112.10 on Friday. The firm has a market cap of $22.32 billion, a PE ratio of 21.31, a P/E/G ratio of 2.06 and a beta of 1.02. The business has a 50-day moving average price of $107.29 and a 200 day moving average price of $109.38. The company has a quick ratio of 0.70, a current ratio of 1.36 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.

Zimmer Biomet (NYSE:ZBH) last announced its 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 return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company posted $1.65 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

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.