Massmutual Trust Co. FSB ADV Purchases 2,940 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Massmutual Trust Co. FSB ADV raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,079 shares of the medical equipment provider’s stock after acquiring an additional 2,940 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Zimmer Biomet were worth $2,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in Zimmer Biomet by 18.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 299,155 shares of the medical equipment provider’s stock valued at $36,407,000 after buying an additional 47,047 shares in the last quarter. NEOS Investment Management LLC raised its stake in shares of Zimmer Biomet by 32.6% during the fourth quarter. NEOS Investment Management LLC now owns 2,960 shares of the medical equipment provider’s stock valued at $360,000 after acquiring an additional 727 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Zimmer Biomet by 7.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 18,024 shares of the medical equipment provider’s stock valued at $2,194,000 after acquiring an additional 1,259 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Zimmer Biomet by 3.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 82,959 shares of the medical equipment provider’s stock valued at $10,096,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Zimmer Biomet by 210.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,577 shares of the medical equipment provider’s stock valued at $3,234,000 after buying an additional 18,019 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Down 1.4 %

NYSE ZBH opened at $104.19 on Friday. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The company has a 50-day moving average of $109.33 and a 200-day moving average of $114.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The company has a market cap of $21.22 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.94 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business posted $1.82 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is 20.78%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ZBH shares. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Robert W. Baird dropped their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group decreased their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. 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 company. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and an average price target of $125.05.

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.