Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC increased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 20.8% in the third quarter, HoldingsChannel.com reports. The fund owned 3,647 shares of the medical equipment provider’s stock after buying an additional 629 shares during the period. Tectonic Advisors LLC’s holdings in Zimmer Biomet were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the period. Boston Partners raised its holdings in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares during the last quarter. Magnetar Financial LLC lifted its position in Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after purchasing an additional 484,816 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Zimmer Biomet by 329.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after purchasing an additional 375,929 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZBH. Oppenheimer reduced their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Wolfe Research began coverage on Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Morgan Stanley dropped 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 research note on Monday, July 15th. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Finally, Robert W. Baird dropped 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. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $123.94.

Zimmer Biomet Stock Down 1.6 %

ZBH opened at $102.35 on Friday. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $107.61 and a two-hundred day moving average price of $111.59. The company has a market cap of $21.06 billion, a PE ratio of 22.15, a P/E/G ratio of 1.92 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 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 earnings per share. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.94%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

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.