Partner Fund Management L.P. decreased its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 14.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 761,934 shares of the medical equipment provider’s stock after selling 132,682 shares during the period. Zimmer Biomet accounts for approximately 1.5% of Partner Fund Management L.P.’s portfolio, making the stock its 21st biggest position. Partner Fund Management L.P. owned about 0.37% of Zimmer Biomet worth $100,171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Zimmer Biomet by 8.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 5,596 shares of the medical equipment provider’s stock worth $736,000 after purchasing an additional 418 shares during the period. Boltwood Capital Management increased its stake in shares of Zimmer Biomet by 5.7% in the third quarter. Boltwood Capital Management now owns 7,788 shares of the medical equipment provider’s stock worth $1,023,000 after purchasing an additional 420 shares during the period. TD Asset Management Inc. increased its stake in shares of Zimmer Biomet by 0.7% in the second quarter. TD Asset Management Inc. now owns 61,859 shares of the medical equipment provider’s stock worth $6,894,000 after purchasing an additional 425 shares during the period. Penserra Capital Management LLC increased its stake in shares of Zimmer Biomet by 16.5% in the third quarter. Penserra Capital Management LLC now owns 3,128 shares of the medical equipment provider’s stock worth $411,000 after purchasing an additional 442 shares during the period. Finally, MUFG Americas Holdings Corp increased its stake in shares of Zimmer Biomet by 18.0% in the second quarter. MUFG Americas Holdings Corp now owns 2,906 shares of the medical equipment provider’s stock worth $324,000 after purchasing an additional 443 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Shares of ZBH opened at $111.99 on Wednesday. Zimmer Biomet Holdings Inc has a 12-month low of $104.28 and a 12-month high of $134.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89. The stock has a market cap of $23.87 billion, a P/E ratio of 13.95, a PEG ratio of 2.36 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 earnings per share. Analysts anticipate that Zimmer Biomet Holdings Inc will post 7.64 EPS for the current fiscal year.

A number of research firms have recently commented on ZBH. Cantor Fitzgerald reiterated a “buy” rating and issued a $150.00 price objective on shares of Zimmer Biomet in a research note on Monday, August 27th. BTIG Research began coverage on Zimmer Biomet in a research note on Thursday, August 16th. They issued a “neutral” rating on the stock. Needham & Company LLC lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 price objective on the stock. in a research note on Monday, August 13th. Leerink Swann dropped their price objective on Zimmer Biomet from $146.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. Finally, Barclays dropped their price objective on Zimmer Biomet from $131.00 to $119.00 and set a “sell” rating on the stock in a research note on Monday, October 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $134.90.

In other Zimmer Biomet news, VP Chad F. Phipps sold 30,100 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by insiders.

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Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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