Plato Investment Management Ltd Increases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Plato Investment Management Ltd increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 839.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 930 shares of the medical equipment provider’s stock after buying an additional 831 shares during the quarter. Plato Investment Management Ltd’s holdings in Zimmer Biomet were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Norges Bank purchased a new position in Zimmer Biomet during the 4th quarter worth $266,896,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares during the period. Van ECK Associates Corp increased its holdings in shares of Zimmer Biomet by 23.7% in the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after purchasing an additional 543,344 shares during the period. Primecap Management Co. CA increased its holdings in shares of Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after purchasing an additional 484,151 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Zimmer Biomet by 16.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock valued at $335,895,000 after purchasing an additional 386,019 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Down 0.2 %

Zimmer Biomet stock traded down $0.23 during trading on Thursday, reaching $111.12. 1,101,111 shares of the company were exchanged, compared to its average volume of 1,488,523. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a market capitalization of $22.86 billion, a P/E ratio of 24.10, a PEG ratio of 2.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $109.96 and its two-hundred day simple moving average is $119.28.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is presently 20.78%.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective on the stock. Oppenheimer increased their price objective on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $140.00 to $115.00 in a report on Monday, July 1st. Morgan Stanley cut their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $129.53.

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.