Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,624,813 shares of the medical equipment provider’s stock after selling 156,476 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of Zimmer Biomet worth $176,341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. OLD Point Trust & Financial Services N A acquired a new position in Zimmer Biomet during the fourth quarter worth $26,000. Crewe Advisors LLC purchased a new position in Zimmer Biomet in the 1st quarter valued at about $31,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Zimmer Biomet in the 4th quarter worth about $30,000. J.Safra Asset Management Corp increased its stake in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Zimmer Biomet during the second quarter valued at approximately $33,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZBH has been the subject of several research reports. Raymond James dropped their price target on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating for the company in a research report on Tuesday, August 20th. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays cut their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Finally, Oppenheimer lowered their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $127.11.

Zimmer Biomet Trading Down 0.4 %

Shares of NYSE ZBH traded down $0.42 during trading on Monday, reaching $114.63. The stock had a trading volume of 911,487 shares, compared to its average volume of 1,474,003. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The company has a market cap of $23.58 billion, a P/E ratio of 24.90, a PEG ratio of 2.02 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The business’s 50-day moving average price is $108.98 and its 200-day moving average price is $117.60.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the company posted $1.82 EPS. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current fiscal year.

Zimmer Biomet Company 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.