Massachusetts Financial Services Co. MA Has $108.62 Million Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Massachusetts Financial Services Co. MA raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,006,217 shares of the medical equipment provider’s stock after buying an additional 4,388 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.51% of Zimmer Biomet worth $108,621,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the last quarter. Van ECK Associates Corp grew its position in Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after purchasing an additional 411,163 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after purchasing an additional 211,637 shares during the period. Boston Partners raised its position in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after buying an additional 691,191 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after buying an additional 9,990 shares during the period. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ZBH. Oppenheimer cut their price target on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Canaccord Genuity Group cut their target price 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. TD Cowen decreased their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $110.22 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The stock has a 50-day simple moving average of $106.79 and a 200 day simple moving average of $109.69. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.99 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results 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 net margin of 14.27% and a return on equity of 12.95%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. Zimmer Biomet’s revenue was up 4.1% compared to the same quarter last year. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s 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.