15,420 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,420 shares of the medical equipment provider’s stock, valued at approximately $1,674,000.

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 shares of Zimmer Biomet by 12.9% in the 1st 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 in the last quarter. American Century Companies Inc. boosted its holdings 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 acquiring an additional 722,041 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after acquiring an additional 484,151 shares during the last quarter. Victory Capital Management Inc. increased 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 in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Zimmer Biomet by 5.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after purchasing an additional 167,038 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target on the stock. Evercore ISI restated an “in-line” rating and issued a $113.00 target price on shares of Zimmer Biomet in a research note on Thursday, September 5th. Truist Financial reissued a “hold” rating and issued a $112.00 price objective (down from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Oppenheimer dropped their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays reduced their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Price Performance

ZBH stock opened at $106.32 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $21.65 billion, a PE ratio of 23.01, a P/E/G ratio of 1.96 and a beta of 1.02. The stock’s 50 day moving average is $109.88 and its two-hundred day moving average is $115.65.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping 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 business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm earned $1.82 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is currently 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.