BLB&B Advisors LLC Raises Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

BLB&B Advisors LLC increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,900 shares of the medical equipment provider’s stock after purchasing an additional 100 shares during the quarter. BLB&B Advisors LLC’s holdings in Zimmer Biomet were worth $529,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. M&G Plc acquired a new stake in shares of Zimmer Biomet during the 1st quarter valued at approximately $7,397,000. AMF Tjanstepension AB acquired a new position in Zimmer Biomet during the first quarter worth $30,300,000. Gradient Investments LLC grew its holdings in Zimmer Biomet by 17.3% in the second quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock valued at $14,147,000 after purchasing an additional 19,224 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Zimmer Biomet by 7.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock worth $30,265,000 after buying an additional 15,548 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $2,740,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ZBH shares. Citigroup cut their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. BTIG Research reduced their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Canaccord Genuity Group dropped their price objective on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. JPMorgan Chase & Co. decreased their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Robert W. Baird cut their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $123.94.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH opened at $104.70 on Thursday. The firm has a market capitalization of $21.54 billion, a PE ratio of 22.66, a P/E/G ratio of 1.95 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The business has a 50-day moving average of $107.89 and a two-hundred day moving average of $111.82.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $1.82 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.