abrdn plc Has $39.61 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

abrdn plc decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,301 shares of the medical equipment provider’s stock after selling 85,169 shares during the quarter. abrdn plc owned about 0.18% of Zimmer Biomet worth $39,607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ZBH. Smith Group Asset Management LLC grew its holdings in Zimmer Biomet by 2.0% during the 3rd quarter. Smith Group Asset Management LLC now owns 150,160 shares of the medical equipment provider’s stock worth $16,210,000 after acquiring an additional 2,941 shares during the period. Asahi Life Asset Management CO. LTD. bought a new position in shares of Zimmer Biomet in the 3rd quarter worth $380,000. Modera Wealth Management LLC grew its stake in shares of Zimmer Biomet by 1.6% during the third quarter. Modera Wealth Management LLC now owns 7,496 shares of the medical equipment provider’s stock worth $809,000 after purchasing an additional 120 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Zimmer Biomet by 14.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,672 shares of the medical equipment provider’s stock valued at $1,584,000 after buying an additional 1,835 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its stake in Zimmer Biomet by 0.9% in the third quarter. NorthCrest Asset Manangement LLC now owns 58,698 shares of the medical equipment provider’s stock valued at $6,336,000 after buying an additional 535 shares during the period. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group lowered their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Evercore ISI lowered their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, Raymond James reduced their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.94.

Zimmer Biomet Stock Up 5.7 %

Zimmer Biomet stock opened at $109.77 on Thursday. The company has a fifty day simple moving average of $107.24 and a 200 day simple moving average of $111.03. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The company has a market cap of $22.58 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $1.82 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued 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 payout ratio is presently 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.