GAMMA Investing LLC Increases Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

GAMMA Investing LLC increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 39.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,371 shares of the medical equipment provider’s stock after purchasing an additional 385 shares during the quarter. GAMMA Investing LLC’s holdings in Zimmer Biomet were worth $148,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet in the first quarter valued at $31,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet in the fourth quarter valued at $30,000. J.Safra Asset Management Corp grew its position in shares of Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Zimmer Biomet in the second quarter valued at $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Zimmer Biomet during the second quarter worth about $43,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZBH has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. UBS Group reduced their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Oppenheimer reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada reduced their target price on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $124.53.

Zimmer Biomet Trading Up 0.7 %

NYSE ZBH opened at $103.50 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. 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 stock has a 50-day moving average of $108.37 and a 200-day moving average of $113.21. The firm has a market cap of $21.29 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating 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 analyst estimates of $1.94 billion. During the same quarter in the previous year, the company posted $1.82 EPS. Zimmer Biomet’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is 20.78%.

Zimmer Biomet Company 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.