Mcmorgan & Co. LLC Reduces Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mcmorgan & Co. LLC lowered its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 16.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,688 shares of the medical equipment provider’s stock after selling 740 shares during the period. Mcmorgan & Co. LLC’s holdings in Zimmer Biomet were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. D. E. Shaw & Co. Inc. raised its holdings in shares of Zimmer Biomet by 329.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after buying an additional 375,929 shares in the last quarter. Deerfield Management Company L.P. Series C grew its position in shares of Zimmer Biomet by 75.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,997 shares of the medical equipment provider’s stock worth $759,000 after buying an additional 3,005 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of Zimmer Biomet by 12.6% during the second quarter. APG Asset Management N.V. now owns 176,729 shares of the medical equipment provider’s stock valued at $17,896,000 after purchasing an additional 19,811 shares in the last quarter. APG Asset Management US Inc. boosted its position in shares of Zimmer Biomet by 1.4% during the second quarter. APG Asset Management US Inc. now owns 176,631 shares of the medical equipment provider’s stock valued at $18,716,000 after purchasing an additional 2,436 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Zimmer Biomet by 1.8% during the second quarter. AQR Capital Management LLC now owns 420,779 shares of the medical equipment provider’s stock valued at $45,360,000 after buying an additional 7,358 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $107.74 on Friday. The stock has a market cap of $22.17 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.97 and a beta of 1.02. The stock has a 50-day moving average of $109.77 and a two-hundred day moving average of $115.05. 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 one year low of $102.00 and a one year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. Zimmer Biomet’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.01 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZBH shares. UBS Group decreased their price target on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Oppenheimer 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. Barclays decreased their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Raymond James decreased their price objective on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Wolfe Research started coverage on Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $125.17.

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.