Studio Investment Management LLC Increases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Studio Investment Management LLC increased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 52.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,373 shares of the medical equipment provider’s stock after purchasing an additional 5,953 shares during the period. Studio Investment Management LLC’s holdings in Zimmer Biomet were worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. American Century Companies Inc. grew its stake in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Van ECK Associates Corp grew its stake in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after purchasing an additional 411,163 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after acquiring an additional 211,637 shares during the period. Finally, Boston Partners boosted its stake in Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZBH has been the subject of a number of research reports. Evercore ISI decreased their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Truist Financial lifted their target price on Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. TD Cowen decreased their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Oppenheimer decreased their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Wolfe Research began coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $123.22.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $108.40 on Friday. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.04 and a beta of 1.02. The stock’s 50 day moving average price is $106.71 and its 200 day moving average price is $109.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Zimmer Biomet 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.