Brandes Investment Partners LP Buys 1,258 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brandes Investment Partners LP increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 38.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,499 shares of the medical equipment provider’s stock after buying an additional 1,258 shares during the quarter. Brandes Investment Partners LP’s holdings in Zimmer Biomet were worth $488,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Zimmer Biomet by 12.9% during 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 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. Victory Capital Management Inc. lifted its holdings in Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after purchasing an additional 211,637 shares during the last quarter. Van ECK Associates Corp boosted its position in 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 in the last quarter. Finally, Boston Partners grew its stake 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 buying an additional 691,191 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. TD Cowen lowered their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Raymond James lowered their price objective on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Price Performance

Shares of ZBH opened at $107.96 on Tuesday. The stock has a market cap of $22.21 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 1.98 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. The stock’s 50-day moving average price is $109.60 and its two-hundred day moving average price is $114.56. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

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, beating analysts’ consensus estimates of $1.99 by $0.02. The firm 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 revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 0.89%. Zimmer Biomet’s dividend 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.