Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,642,801 shares of the medical equipment provider’s stock after acquiring an additional 1,215,935 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.05% of Zimmer Biomet worth $1,404,638,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZBH. Magnetar Financial LLC increased its holdings in Zimmer Biomet by 11.9% in the first quarter. Magnetar Financial LLC now owns 825,449 shares of the medical equipment provider’s stock valued at $108,943,000 after buying an additional 87,729 shares in the last quarter. LRI Investments LLC purchased a new position in Zimmer Biomet in the first quarter valued at about $68,000. 1832 Asset Management L.P. increased its holdings in Zimmer Biomet by 2.0% in the first quarter. 1832 Asset Management L.P. now owns 14,016 shares of the medical equipment provider’s stock valued at $1,850,000 after buying an additional 275 shares in the last quarter. Toronto Dominion Bank increased its holdings in Zimmer Biomet by 2.1% in the first quarter. Toronto Dominion Bank now owns 121,004 shares of the medical equipment provider’s stock valued at $15,970,000 after buying an additional 2,456 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $282,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Trading Up 0.6 %

Shares of ZBH traded up $0.65 during mid-day trading on Friday, reaching $111.29. The company had a trading volume of 1,399,353 shares, compared to its average volume of 1,448,416. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. The firm has a fifty day simple moving average of $110.44 and a 200-day simple moving average of $119.53. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $142.54. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 EPS. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Barclays decreased their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Oppenheimer raised their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Truist Financial decreased their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, Evercore ISI decreased their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $129.53.

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.