Deerfield Management Company L.P. Series C Purchases 3,005 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Deerfield Management Company L.P. Series C increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 75.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,997 shares of the medical equipment provider’s stock after purchasing an additional 3,005 shares during the period. Deerfield Management Company L.P. Series C’s holdings in Zimmer Biomet were worth $759,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after acquiring an additional 1,215,935 shares during the period. American Century Companies Inc. lifted its holdings in Zimmer Biomet by 12.6% during 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. Boston Partners boosted its position in Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares during the period. Magnetar Financial LLC increased its holdings in shares of Zimmer Biomet by 58.7% in the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after purchasing an additional 484,816 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Zimmer Biomet by 11.3% in the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after purchasing an additional 320,002 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ZBH shares. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Morgan Stanley decreased their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Citigroup reduced their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Oppenheimer lowered their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.17.

Zimmer Biomet Trading Up 1.2 %

Shares of ZBH stock opened at $107.74 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The company has a market cap of $22.17 billion, a PE ratio of 23.32, a P/E/G ratio of 1.97 and a beta of 1.02. The stock’s fifty day moving average price is $109.77 and its two-hundred day moving average price is $115.05.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.82 earnings per share. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.01 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. Investors of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is 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.