This afternoon we watched Zimmer Biomet drop -1.3% to a price of $115.38 per share. The large-cap Specialty Industrial Machinery company is now trading -10.53% below its average target price of $128.96. Analysts have set target prices ranging from $99.0 to $150.0 per share for Zimmer Biomet, and have given the stock an average rating of hold.
The stock has a very low short interest at 1.5%, and a short ratio of 1.38. At 0.1%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that a significant number of institutional investors are invested in the stock, with 90.3% of Zimmer Biomet's shares being owned by this investor type.
Institutions Invested in Zimmer Biomet
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 11% | 23,934,432 | $2,761,554,698 |
| 2023-09-30 | Blackrock Inc. | 10% | 21,631,176 | $2,495,805,027 |
| 2023-09-30 | State Street Corporation | 4% | 9,015,261 | $1,040,180,789 |
| 2023-09-30 | Price (T.Rowe) Associates Inc | 4% | 7,968,507 | $919,406,315 |
| 2023-09-30 | Invesco Ltd. | 3% | 6,426,771 | $741,520,820 |
| 2023-09-30 | Dodge & Cox Inc | 2% | 4,826,725 | $556,907,517 |
| 2023-09-30 | Primecap Management Company | 2% | 4,602,427 | $531,028,014 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 4,504,309 | $519,707,160 |
| 2023-09-30 | JP Morgan Chase & Company | 2% | 3,445,127 | $397,498,743 |
| 2023-09-30 | Victory Capital Management Inc. | 1% | 3,080,463 | $355,423,812 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Zimmer Biomet.
