Sivik Global Healthcare LLC Makes New $4.32 Million Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sivik Global Healthcare LLC acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,000 shares of the medical equipment provider’s stock, valued at approximately $4,318,000. Zimmer Biomet accounts for about 1.8% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BLB&B Advisors LLC lifted its position in Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 100 shares in the last quarter. Financial Advocates Investment Management raised its position in shares of Zimmer Biomet by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after purchasing an additional 103 shares during the period. M&R Capital Management Inc. lifted its stake in shares of Zimmer Biomet by 14.1% during the 3rd quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after buying an additional 105 shares in the last quarter. Mill Creek Capital Advisors LLC boosted its holdings in Zimmer Biomet by 5.1% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 106 shares during the period. Finally, HB Wealth Management LLC raised its holdings in Zimmer Biomet by 2.8% during the second quarter. HB Wealth Management LLC now owns 3,864 shares of the medical equipment provider’s stock valued at $419,000 after acquiring an additional 107 shares during the period. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Down 0.4 %

NYSE:ZBH traded down $0.46 during midday trading on Thursday, reaching $109.51. 21,240 shares of the stock traded hands, compared to its average volume of 1,481,896. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The business has a 50-day moving average of $106.04 and a two-hundred day moving average of $110.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The stock has a market capitalization of $21.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02.

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

Zimmer Biomet Announces Dividend

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 annualized dividend 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

A number of equities research analysts have issued reports on the stock. Oppenheimer cut their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Canaccord Genuity Group decreased their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. UBS Group reduced their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Truist Financial increased their price target on Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Company 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.