Covestor Ltd Acquires 290 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Covestor Ltd grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 36.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088 shares of the medical equipment provider’s stock after acquiring an additional 290 shares during the period. Covestor Ltd’s holdings in Zimmer Biomet were worth $117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted 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 valued at $1,404,638,000 after acquiring an additional 1,215,935 shares during the last quarter. American Century Companies Inc. lifted its stake in 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 purchasing an additional 722,041 shares during the last quarter. Van ECK Associates Corp grew its holdings in Zimmer Biomet by 12.4% during 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 during the period. Victory Capital Management Inc. increased its position in 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 during the last quarter. Finally, Boston Partners raised 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 buying an additional 691,191 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Oppenheimer decreased their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. TD Cowen cut their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Finally, Truist Financial raised their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $124.11.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $109.95 on Wednesday. The firm’s 50 day simple moving average is $106.26 and its 200 day simple moving average is $110.25. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 1.99 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $1.80 billion. During the same quarter last year, the business posted $1.65 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

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.