QRG Capital Management Inc. Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

QRG Capital Management Inc. trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,645 shares of the medical equipment provider’s stock after selling 1,190 shares during the period. QRG Capital Management Inc.’s holdings in Zimmer Biomet were worth $609,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Zimmer Biomet by 12.9% in the first 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 purchasing an additional 1,215,935 shares during the last quarter. American Century Companies Inc. boosted its position in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Van ECK Associates Corp boosted its position in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after purchasing an additional 411,163 shares during the last quarter. Victory Capital Management Inc. boosted its position in Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after purchasing an additional 211,637 shares during the last quarter. Finally, Boston Partners boosted its position in Zimmer Biomet by 26.3% in 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 last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $108.18 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The stock’s 50 day simple moving average is $106.37 and its two-hundred day simple moving average is $110.48. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.02 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s payout ratio is currently 18.25%.

Analysts Set New Price Targets

Several research firms have recently commented on ZBH. TD Cowen decreased their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Wells Fargo & Company raised their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Oppenheimer decreased their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Wolfe Research began coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $124.11.

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.