Covestor Ltd Has $117,000 Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Covestor Ltd boosted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 36.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,088 shares of the medical equipment provider’s stock after purchasing an additional 290 shares during the period. Covestor Ltd’s holdings in Zimmer Biomet were worth $117,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. BLB&B Advisors LLC lifted its holdings in shares of Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock worth $529,000 after purchasing an additional 100 shares during the period. Financial Advocates Investment Management lifted its holdings in Zimmer Biomet by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after buying an additional 103 shares during the period. M&R Capital Management Inc. grew its position in shares of Zimmer Biomet by 14.1% in the 3rd quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after buying an additional 105 shares during the last quarter. Mill Creek Capital Advisors LLC increased its stake in shares of Zimmer Biomet by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 106 shares during the period. Finally, HB Wealth Management LLC raised its position in shares of Zimmer Biomet by 2.8% during the second quarter. HB Wealth Management LLC now owns 3,864 shares of the medical equipment provider’s stock worth $419,000 after acquiring an additional 107 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $109.95 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The firm’s 50-day simple moving average is $106.26 and its 200 day simple moving average is $110.25. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.99 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90.

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

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

Analysts Set New Price Targets

A number of analysts have weighed in on ZBH shares. Raymond James decreased their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Truist Financial lifted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. BTIG Research cut their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Evercore ISI lowered their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group cut their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average 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.