Zimmer Biomet Holdings, Inc. $ZBH Stock: Equity Investment Corp Raises Stake

Equity Investment Corp raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,776,758 shares of the medical equipment provider’s stock after purchasing an additional 95,398 shares during the period. Zimmer Biomet accounts for approximately 2.2% of Equity Investment Corp’s holdings, making the stock its 8th biggest position. Equity Investment Corp’s holdings in Zimmer Biomet were worth $157,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $1,344,282,000. State Street Corp boosted its position in shares of Zimmer Biomet by 0.6% during the second quarter. State Street Corp now owns 8,877,171 shares of the medical equipment provider’s stock worth $766,343,000 after buying an additional 52,044 shares during the period. Primecap Management Co. CA acquired a new position in shares of Zimmer Biomet during the second quarter worth approximately $328,578,000. Dimensional Fund Advisors LP grew its holdings in Zimmer Biomet by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,224,163 shares of the medical equipment provider’s stock worth $201,082,000 after buying an additional 24,208 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Zimmer Biomet in the 2nd quarter worth approximately $187,480,000. Institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Kevin R. Thornal sold 5,691 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $92.95, for a total value of $528,978.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chad Phipps sold 3,000 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $98.35, for a total value of $295,050.00. Following the completion of the sale, the insider directly owned 65,231 shares in the company, valued at $6,415,468.85. This represents a 4.40% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.28% of the stock is currently owned by company insiders.

Zimmer Biomet Trading Down 0.8%

Zimmer Biomet stock opened at $107.47 on Wednesday. The firm has a 50 day simple moving average of $95.42 and a 200-day simple moving average of $92.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.46 and a quick ratio of 0.79. The stock has a market capitalization of $20.50 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.54 and a beta of 0.50. Zimmer Biomet Holdings, Inc. has a 12-month low of $79.12 and a 12-month high of $112.54.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, November 4th. The medical equipment provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a net margin of 8.95% and a return on equity of 13.02%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.56 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 24.30%.

Wall Street Analyst Weigh In

Several analysts recently commented on ZBH shares. Canaccord Genuity Group raised their target price on Zimmer Biomet from $83.00 to $100.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and issued a $120.00 price target on shares of Zimmer Biomet in a research note on Wednesday, November 4th. Truist Financial set a $114.00 price objective on shares of Zimmer Biomet in a research note on Thursday, November 5th. Finally, Citigroup upped their price objective on shares of Zimmer Biomet from $99.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Seven investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.74.

Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc. develops and manufactures medical devices and technologies used in musculoskeletal care. Its products support orthopedic procedures involving the hip, knee, shoulder, and extremities, as well as trauma care, sports medicine, and related surgical applications. The company also offers surgical technologies, including robotic and digital solutions designed to assist clinicians with planning and performing procedures. Its products and services are used by hospitals, surgeons, and other healthcare providers.