First Eagle Investment Management LLC Has $715,000 Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

First Eagle Investment Management LLC increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 38.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,586 shares of the medical equipment provider’s stock after buying an additional 1,820 shares during the period. First Eagle Investment Management LLC’s holdings in Zimmer Biomet were worth $715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC lifted its position in Zimmer Biomet by 3.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after purchasing an additional 92 shares during the period. North Star Investment Management Corp. lifted its position in Zimmer Biomet by 16.6% during the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 95 shares during the period. First Bancorp Inc ME lifted its position in Zimmer Biomet by 5.3% during the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after purchasing an additional 100 shares during the period. Ballentine Partners LLC lifted its position in Zimmer Biomet by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 100 shares during the period. Finally, Romano Brothers AND Company lifted its position in Zimmer Biomet by 1.1% during the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ZBH shares. Raymond James cut their target price on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price on the stock. Wolfe Research initiated coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating for the company. Morgan Stanley lowered their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, Barclays lowered their price target on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Price Performance

Shares of ZBH opened at $106.42 on Friday. The stock has a market capitalization of $21.89 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The company has a 50 day moving average of $109.83 and a 200-day moving average of $115.46. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during 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 business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is presently 20.78%.

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.