Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Olstein Capital Management L.P.

Olstein Capital Management L.P. boosted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 80,000 shares of the medical equipment provider’s stock after purchasing an additional 2,600 shares during the quarter. Zimmer Biomet accounts for 1.5% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 22nd largest position. Olstein Capital Management L.P.’s holdings in Zimmer Biomet were worth $8,636,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ZBH. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet during the 1st quarter valued at about $31,000. Bangor Savings Bank acquired a new position in Zimmer Biomet in the 3rd quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $33,000. J.Safra Asset Management Corp increased 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 worth $35,000 after buying an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at approximately $43,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 0.5 %

Shares of Zimmer Biomet stock traded down $0.60 during trading on Thursday, hitting $109.57. 23,089 shares of the stock were exchanged, compared to its average volume of 1,485,898. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The firm’s 50-day moving average price is $106.64 and its 200 day moving average price is $110.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, 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 0.88%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZBH. Robert W. Baird cut their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. 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. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Finally, Canaccord Genuity Group lowered their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.11.

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.