Empirical Finance LLC Has $762,000 Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Empirical Finance LLC trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,024 shares of the medical equipment provider’s stock after selling 487 shares during the period. Empirical Finance LLC’s holdings in Zimmer Biomet were worth $762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OLD Point Trust & Financial Services N A acquired a new stake in Zimmer Biomet in the fourth quarter valued at $26,000. Crewe Advisors LLC acquired a new stake in Zimmer Biomet in the first quarter valued at $31,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Zimmer Biomet during the 4th quarter worth about $30,000. J.Safra Asset Management Corp grew its holdings in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 235 shares during the period. Finally, Family Firm Inc. acquired a new stake in Zimmer Biomet during the 2nd quarter worth about $33,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $115.46 on Friday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The stock has a market cap of $23.51 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The firm’s 50-day simple moving average is $109.76 and its 200 day simple moving average is $117.37.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.06 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.83%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ZBH shares. Evercore ISI decreased their price target on Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating for the company in a report on Thursday, August 8th. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Tuesday, May 21st. Canaccord Genuity Group decreased their price target on Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. Royal Bank of Canada decreased their price target on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer decreased their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $126.41.

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.