Morningstar Investment Services LLC grew its stake in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,153 shares of the medical equipment provider’s stock after acquiring an additional 166 shares during the period. Morningstar Investment Services LLC’s holdings in Zimmer Biomet were worth $6,564,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitchell Capital Management Co. grew its holdings in Zimmer Biomet by 1.7% during the second quarter. Mitchell Capital Management Co. now owns 14,116 shares of the medical equipment provider’s stock worth $1,685,000 after purchasing an additional 237 shares during the period. State of Michigan Retirement System grew its holdings in Zimmer Biomet by 12.1% during the second quarter. State of Michigan Retirement System now owns 52,834 shares of the medical equipment provider’s stock worth $6,306,000 after purchasing an additional 5,691 shares during the period. Regent Investment Management LLC bought a new position in Zimmer Biomet during the second quarter worth about $215,000. Sciencast Management LP bought a new position in Zimmer Biomet during the second quarter worth about $2,224,000. Finally, Pacer Advisors Inc. bought a new position in Zimmer Biomet during the second quarter worth about $2,536,000. Institutional investors own 88.02% of the company’s stock.
ZBH has been the subject of a number of research analyst reports. Wells Fargo & Co lifted their price target on Zimmer Biomet from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Piper Sandler reduced their price target on Zimmer Biomet from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, May 11th. JMP Securities reduced their price objective on Zimmer Biomet from $175.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Oppenheimer assumed coverage on Zimmer Biomet in a report on Thursday, May 28th. They set a “buy” rating and a $138.00 price objective for the company. Finally, Raymond James boosted their price objective on Zimmer Biomet from $136.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $147.65.
ZBH traded down $3.44 during trading on Friday, hitting $134.86. 1,303,615 shares of the stock traded hands, compared to its average volume of 1,185,750. Zimmer Biomet Holdings Inc has a twelve month low of $74.37 and a twelve month high of $161.11. The company has a market cap of $27.84 billion, a price-to-earnings ratio of 74.51, a PEG ratio of 5.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.69 and a quick ratio of 1.03. The business has a 50 day moving average price of $125.63 and a 200 day moving average price of $126.30.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.53 by $0.17. Zimmer Biomet had a net margin of 4.84% and a return on equity of 13.29%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the business earned $1.87 earnings per share. The company’s revenue was down 9.7% on a year-over-year basis. On average, equities research analysts predict that Zimmer Biomet Holdings Inc will post 3.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, June 29th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 26th. This represents a $0.96 annualized dividend and a yield of 0.71%. Zimmer Biomet’s dividend payout ratio is currently 12.20%.
Zimmer Biomet Company Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
Featured Story: What is the price-to-earnings growth (PEG) ratio?
Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.