TD Asset Management Inc Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

TD Asset Management Inc trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 56.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,400 shares of the medical equipment provider’s stock after selling 99,839 shares during the period. TD Asset Management Inc’s holdings in Zimmer Biomet were worth $8,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ZBH. Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 1,215,935 shares during the period. Primecap Management Co. CA raised its stake in shares of Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after buying an additional 484,151 shares during the period. Van ECK Associates Corp raised its stake in shares of Zimmer Biomet by 5.3% in the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after buying an additional 167,038 shares during the period. Boston Partners raised its stake in shares of 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. Finally, Norges Bank bought a new stake in shares of Zimmer Biomet in the fourth quarter valued at $266,896,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

ZBH stock opened at $105.16 on Wednesday. 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 has a market capitalization of $21.42 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.92 and a beta of 1.02. The firm has a 50 day moving average price of $109.99 and a 200-day moving average price of $116.46. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. Zimmer Biomet’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is presently 20.78%.

Analysts Set New Price Targets

ZBH has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, August 8th. Oppenheimer decreased their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley decreased their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Tuesday, May 21st. Finally, Barclays decreased their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.72.

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.