Mackenzie Financial Corp Invests $1.88 Million in Zimmer Biomet Holdings Inc (ZBH) Stock

Mackenzie Financial Corp acquired a new position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,058 shares of the medical equipment provider’s stock, valued at approximately $1,880,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Zimmer Biomet by 4.1% in the 2nd quarter. BlackRock Inc. now owns 17,419,463 shares of the medical equipment provider’s stock valued at $2,236,657,000 after purchasing an additional 679,080 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Zimmer Biomet by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,380,517 shares of the medical equipment provider’s stock valued at $1,718,057,000 after purchasing an additional 339,106 shares in the last quarter. Longview Partners Guernsey LTD boosted its stake in shares of Zimmer Biomet by 17.7% in the 3rd quarter. Longview Partners Guernsey LTD now owns 7,506,684 shares of the medical equipment provider’s stock valued at $878,958,000 after purchasing an additional 1,128,973 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Zimmer Biomet by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 5,277,660 shares of the medical equipment provider’s stock valued at $617,961,000 after purchasing an additional 357,302 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Zimmer Biomet by 8.1% in the 3rd quarter. American Century Companies Inc. now owns 4,165,353 shares of the medical equipment provider’s stock valued at $487,721,000 after purchasing an additional 311,654 shares in the last quarter. Hedge funds and other institutional investors own 86.24% of the company’s stock.

A number of research firms have recently weighed in on ZBH. Morgan Stanley reduced their price target on shares of Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. BMO Capital Markets reduced their price target on shares of Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Piper Jaffray Companies downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 2nd. SunTrust Banks set a $136.00 target price on shares of Zimmer Biomet and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $133.71.

Zimmer Biomet Holdings Inc (NYSE ZBH) traded down $1.40 during trading on Friday, reaching $113.38. 1,656,416 shares of the company’s stock traded hands, compared to its average volume of 1,141,137. The company has a market cap of $22,956.39, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.76 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. Zimmer Biomet Holdings Inc has a 52-week low of $100.81 and a 52-week high of $133.49.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 EPS. equities research analysts expect that Zimmer Biomet Holdings Inc will post 8.03 EPS for the current fiscal year.

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Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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

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