Studio Investment Management LLC Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Studio Investment Management LLC raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 52.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,373 shares of the medical equipment provider’s stock after acquiring an additional 5,953 shares during the period. Studio Investment Management LLC’s holdings in Zimmer Biomet were worth $1,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Ashton Thomas Securities LLC purchased a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $28,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $31,000. Bangor Savings Bank purchased a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet during the 2nd quarter worth approximately $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Zimmer Biomet during the 2nd quarter worth approximately $43,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. TD Cowen dropped their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. BTIG Research dropped their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Evercore ISI dropped their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Finally, 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 note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $123.22.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $108.40 on Friday. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The stock has a market capitalization of $21.58 billion, a P/E ratio of 20.61, a PEG ratio of 2.04 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. The business’s fifty day moving average price is $106.71 and its 200 day moving average price is $109.85.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $1.65 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s payout ratio is 18.25%.

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.