Envestnet Asset Management Inc. Reduces Position in Zimmer Biomet Holdings Inc (ZBH)

Envestnet Asset Management Inc. decreased its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,527 shares of the medical equipment provider’s stock after selling 2,160 shares during the period. Envestnet Asset Management Inc.’s holdings in Zimmer Biomet were worth $3,457,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ZBH. JPMorgan Chase & Co. lifted its stake in Zimmer Biomet by 92.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,279,951 shares of the medical equipment provider’s stock valued at $421,146,000 after purchasing an additional 1,577,874 shares during the last quarter. Longview Partners Guernsey LTD increased its position in 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 acquiring an additional 1,128,973 shares during the period. Koch Industries Inc. increased its position in Zimmer Biomet by 49,697.3% in the 2nd quarter. Koch Industries Inc. now owns 1,040,764 shares of the medical equipment provider’s stock valued at $1,033,000 after acquiring an additional 1,038,674 shares during the period. BlackRock Inc. increased its position in 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 acquiring an additional 679,080 shares during the period. Finally, Northern Trust Corp increased its position in Zimmer Biomet by 20.2% in the 2nd quarter. Northern Trust Corp now owns 4,010,274 shares of the medical equipment provider’s stock valued at $514,919,000 after acquiring an additional 673,079 shares during the period. 86.24% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Holdings Inc (NYSE:ZBH) traded up $0.03 on Wednesday, hitting $113.54. 1,594,400 shares of the stock traded hands, compared to its average volume of 1,356,405. Zimmer Biomet Holdings Inc has a 52 week low of $100.81 and a 52 week high of $133.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 1.47. The firm has a market capitalization of $22,982.72, a PE ratio of 14.07, a PEG ratio of 1.76 and a beta of 1.15.

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

Several equities analysts have issued reports on ZBH shares. SunTrust Banks set a $136.00 price target on shares of Zimmer Biomet and gave the company a “buy” rating in a research report on Wednesday, November 1st. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. Morgan Stanley decreased their price target on shares of Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. BMO Capital Markets decreased their price target on shares of Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Finally, Deutsche Bank upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research report on Tuesday, November 14th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $134.05.

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About Zimmer Biomet

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.

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

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