Assenagon Asset Management S.A. Buys 3,859 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Assenagon Asset Management S.A. lifted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,145 shares of the medical equipment provider’s stock after purchasing an additional 3,859 shares during the period. Assenagon Asset Management S.A.’s holdings in Zimmer Biomet were worth $3,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet in the 1st quarter worth $31,000. J.Safra Asset Management Corp lifted its holdings in Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 235 shares in the last quarter. Bangor Savings Bank bought a new position in Zimmer Biomet during the third quarter worth about $31,000. Family Firm Inc. bought a new position in Zimmer Biomet during the second quarter worth about $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet during the second quarter worth about $43,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Trading Up 5.7 %

Shares of NYSE:ZBH opened at $109.77 on Thursday. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The stock has a market cap of $22.58 billion, a PE ratio of 23.76, a P/E/G ratio of 1.88 and a beta of 1.02. The business has a 50 day moving average of $107.24 and a 200-day moving average of $111.03. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) 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 company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen reduced their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. UBS Group reduced their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Truist Financial reiterated a “hold” rating and set a $112.00 target price (down from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. JPMorgan Chase & Co. reduced their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Canaccord Genuity Group dropped their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $123.94.

About Zimmer Biomet

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.