United Asset Strategies Inc. Grows Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

United Asset Strategies Inc. grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,564 shares of the medical equipment provider’s stock after buying an additional 387 shares during the period. United Asset Strategies Inc.’s holdings in Zimmer Biomet were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in shares of Zimmer Biomet in the first quarter worth about $31,000. Bangor Savings Bank bought a new stake in Zimmer Biomet in the 3rd quarter worth approximately $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet in the second quarter valued at $33,000. J.Safra Asset Management Corp grew its stake in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Zimmer Biomet in the second quarter worth about $43,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZBH. JPMorgan Chase & Co. lowered their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Canaccord Genuity Group cut their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Morgan Stanley cut their price target on shares of 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, Evercore ISI cut their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $123.94.

Zimmer Biomet Stock Down 2.2 %

Shares of NYSE ZBH traded down $2.38 during trading hours on Thursday, hitting $107.43. 457,382 shares of the stock were exchanged, compared to its average volume of 1,481,578. The firm has a fifty day moving average price of $107.24 and a 200-day moving average price of $111.03. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The company has a market cap of $22.10 billion, a PE ratio of 23.76, a PEG ratio of 1.88 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’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, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.