Equity Investment Corp Buys Shares of 649,409 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Equity Investment Corp bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 649,409 shares of the medical equipment provider’s stock, valued at approximately $70,104,000.

Several other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Zimmer Biomet by 12.9% during 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 buying an additional 1,215,935 shares during the period. American Century Companies Inc. boosted its position in shares of Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares during the period. Van ECK Associates Corp boosted its position in shares of Zimmer Biomet by 12.4% during the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares during the period. Victory Capital Management Inc. boosted its position in shares of Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after buying an additional 211,637 shares during the period. Finally, Boston Partners boosted its position 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 valued at $437,413,000 after buying an additional 691,191 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $112.54 on Monday. The business’s fifty day simple moving average is $106.28 and its 200-day simple moving average is $109.98. The company has a market cap of $22.40 billion, a PE ratio of 21.40, a PEG ratio of 2.07 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. 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 issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s payout ratio is 18.25%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ZBH shares. Raymond James lowered their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. lowered their price target on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Canaccord Genuity Group lowered their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Wells Fargo & Company boosted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Evercore ISI lowered their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.