Reinhart Partners LLC. Increases Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Reinhart Partners LLC. grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,755 shares of the medical equipment provider’s stock after buying an additional 22,220 shares during the quarter. Reinhart Partners LLC.’s holdings in Zimmer Biomet were worth $9,164,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Dunhill Financial LLC grew its position in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet during the 3rd quarter valued at approximately $28,000. Bangor Savings Bank bought a new stake in Zimmer Biomet in the 3rd quarter worth approximately $31,000. Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet during the 3rd quarter worth approximately $35,000. Finally, Quarry LP bought a new position in shares of Zimmer Biomet during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ZBH shares. Truist Financial boosted their target price on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays dropped their target price on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company raised their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, BTIG Research dropped their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $123.33.

Zimmer Biomet Stock Performance

ZBH stock traded up $0.49 during midday trading on Monday, hitting $105.03. 580,048 shares of the stock traded hands, compared to its average volume of 1,595,746. The stock’s fifty day simple moving average is $108.03 and its 200-day simple moving average is $108.02. The firm has a market cap of $20.91 billion, a P/E ratio of 19.97, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1-year low of $100.67 and a 1-year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

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

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 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.