Ariel Investments LLC Acquires 8,592 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Ariel Investments LLC raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.0% during the second quarter, HoldingsChannel reports. The firm owned 297,401 shares of the medical equipment provider’s stock after buying an additional 8,592 shares during the quarter. Ariel Investments LLC’s holdings in Zimmer Biomet were worth $32,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZBH. TD Asset Management Inc increased its stake in Zimmer Biomet by 10.1% during the 4th quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock valued at $20,640,000 after purchasing an additional 15,552 shares in the last quarter. Bank of Nova Scotia raised its stake in Zimmer Biomet by 499.0% during the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock worth $16,397,000 after purchasing an additional 112,237 shares during the period. Speece Thorson Capital Group Inc. lifted its stake in shares of Zimmer Biomet by 13.8% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock valued at $19,253,000 after purchasing an additional 19,144 shares during the last quarter. APG Asset Management US Inc. purchased a new position in Zimmer Biomet during the fourth quarter worth about $14,530,000. Finally, M&G Plc purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $7,397,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZBH. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective on the stock. Barclays lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Robert W. Baird dropped their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Wolfe Research assumed coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Stock Down 1.2 %

ZBH stock opened at $106.50 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $109.86 and its 200 day simple moving average is $115.11. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $133.90. The firm has a market capitalization of $21.69 billion, a PE ratio of 23.05, a PEG ratio of 1.97 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data 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 net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $1.82 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.01 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

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.