Empowered Funds LLC Raises Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Empowered Funds LLC raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,135 shares of the medical equipment provider’s stock after buying an additional 265 shares during the period. Empowered Funds LLC’s holdings in Zimmer Biomet were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. American Century Companies Inc. raised its stake in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after acquiring an additional 722,041 shares during the period. Van ECK Associates Corp boosted its stake in shares of Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares during the period. Victory Capital Management Inc. grew its position in shares of Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares in the last quarter. Boston Partners increased its stake in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after acquiring an additional 9,990 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

NYSE ZBH opened at $110.22 on Monday. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The firm has a market capitalization of $21.94 billion, a PE ratio of 20.95, a P/E/G ratio of 2.03 and a beta of 1.02. The company’s 50 day simple moving average is $106.79 and its 200 day simple moving average is $109.62. 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 released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Analyst Ratings Changes

Several research firms recently weighed in on ZBH. Raymond James decreased their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada boosted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. BTIG Research decreased their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Canaccord Genuity Group reduced their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.22.

About Zimmer Biomet

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.