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

Wellington Management Group LLP grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 12.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 37,068 shares of the medical equipment provider’s stock after buying an additional 4,056 shares during the period. Wellington Management Group LLP’s holdings in Zimmer Biomet were worth $4,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. raised its stake in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after purchasing an additional 411,163 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after purchasing an additional 211,637 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after buying an additional 9,990 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Zimmer Biomet by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,810,770 shares of the medical equipment provider’s stock worth $196,523,000 after buying an additional 154,447 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 1.2 %

Shares of NYSE:ZBH opened at $108.08 on Wednesday. The business has a 50-day moving average price of $107.90 and a 200 day moving average price of $108.55. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.96 and a beta of 1.02.

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, meeting analysts’ consensus estimates of $1.74. The business 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 business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Analysts Set New Price Targets

ZBH has been the subject of several research reports. 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 research note on Monday, October 14th. Wells Fargo & Company increased their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Evercore ISI decreased their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Finally, BTIG Research reduced their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target of $123.28.

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.