Charles Schwab Investment Management Inc. Cuts Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,211,001 shares of the medical equipment provider’s stock after selling 13,561 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.61% of Zimmer Biomet worth $130,728,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ZBH. American Century Companies Inc. raised its position in shares of 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 worth $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Van ECK Associates Corp increased its stake in Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after buying an additional 411,163 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after acquiring an additional 211,637 shares during the last quarter. Boston Partners lifted its position in shares of Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock worth $277,357,000 after acquiring an additional 9,990 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 0.7 %

Zimmer Biomet stock opened at $110.96 on Tuesday. The company has a market capitalization of $22.09 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The firm has a 50 day moving average price of $106.86 and a 200 day moving average price of $109.54.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZBH. Royal Bank of Canada increased their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. BTIG Research reduced their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Oppenheimer lowered their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, Wolfe Research started coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet 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.