Lowe Brockenbrough & Co. Inc. Increases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Lowe Brockenbrough & Co. Inc. lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,470 shares of the medical equipment provider’s stock after acquiring an additional 156 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Zimmer Biomet were worth $592,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet during the first quarter worth approximately $31,000. Bangor Savings Bank purchased a new position in shares of Zimmer Biomet during the 3rd quarter valued at $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet during the 2nd quarter valued at $33,000. J.Safra Asset Management Corp grew its holdings in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Zimmer Biomet during the 2nd quarter valued at $43,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Morgan Stanley cut their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada cut 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. Oppenheimer dropped their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, UBS Group decreased their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.84.

Zimmer Biomet Stock Up 0.3 %

ZBH opened at $107.27 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.36. The stock has a fifty day moving average of $106.96 and a 200-day moving average of $110.81. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The company has a market capitalization of $21.35 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Zimmer Biomet 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.