Foundry Partners LLC Grows Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Foundry Partners LLC increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,559 shares of the medical equipment provider’s stock after acquiring an additional 322 shares during the period. Foundry Partners LLC’s holdings in Zimmer Biomet were worth $600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet during the 3rd quarter worth about $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the third quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $43,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Zimmer Biomet in the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 1.7 %

ZBH stock opened at $110.23 on Friday. The stock has a market cap of $21.94 billion, a P/E ratio of 20.96, a PEG ratio of 1.99 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 twelve month low of $101.47 and a twelve month high of $133.90. The company’s 50 day moving average is $106.79 and its two-hundred day moving average is $109.78.

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

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 0.87%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

Analysts Set New Price Targets

ZBH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Raymond James decreased their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. UBS Group dropped their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Truist Financial increased their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company 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 issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.22.

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.