Citigroup Inc. Decreases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Citigroup Inc. cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 12.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,987 shares of the medical equipment provider’s stock after selling 21,898 shares during the quarter. Citigroup Inc. owned 0.08% of Zimmer Biomet worth $16,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake 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 during the last quarter. Van ECK Associates Corp grew its holdings in 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 in the last quarter. Victory Capital Management Inc. raised its stake in shares of Zimmer Biomet by 6.7% in 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 purchasing an additional 211,637 shares in the last quarter. Boston Partners raised its stake in shares of Zimmer Biomet by 26.3% in the 1st 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the topic of several research reports. Robert W. Baird cut their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada upped their price target on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Raymond James decreased their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Wolfe Research assumed coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Trading Up 1.3 %

NYSE:ZBH opened at $112.06 on Thursday. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The business has a fifty day moving average of $107.07 and a 200-day moving average of $109.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.04 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. Zimmer Biomet’s revenue was up 4.1% compared to the same quarter last year. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current 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.