Zimmer Biomet Holdings, Inc. $ZBH Stock Purchased by Equity Investment Corp

Equity Investment Corp raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,776,758 shares of the medical equipment provider’s stock after acquiring an additional 95,398 shares during the quarter. Zimmer Biomet makes up 2.2% of Equity Investment Corp’s portfolio, making the stock its 8th biggest position. Equity Investment Corp owned 0.93% of Zimmer Biomet worth $157,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth about $26,000. Ancora Advisors LLC bought a new position in shares of Zimmer Biomet during the second quarter worth about $29,000. Elevation Wealth Partners LLC lifted its position in shares of Zimmer Biomet by 145.9% during the second quarter. Elevation Wealth Partners LLC now owns 386 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 229 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Zimmer Biomet in the first quarter worth about $44,000. Finally, Parvin Asset Management LLC acquired a new position in Zimmer Biomet in the second quarter worth about $47,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zimmer Biomet

In other news, insider Kevin R. Thornal sold 5,691 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $92.95, for a total transaction of $528,978.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Phipps sold 3,000 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $98.35, for a total value of $295,050.00. Following the sale, the insider owned 65,231 shares in the company, valued at $6,415,468.85. The trade was a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.28% of the stock is currently owned by corporate insiders.

Zimmer Biomet Trading Down 0.8%

NYSE ZBH opened at $107.47 on Wednesday. Zimmer Biomet Holdings, Inc. has a one year low of $79.12 and a one year high of $112.54. The company has a 50-day simple moving average of $95.42 and a 200-day simple moving average of $92.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.79 and a current ratio of 1.46. The firm has a market capitalization of $20.50 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.54 and a beta of 0.50.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 4th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a net margin of 8.95% and a return on equity of 13.02%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.56 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. Zimmer Biomet’s dividend payout ratio is 24.30%.

Analyst Ratings Changes

Several brokerages have issued reports on ZBH. Wells Fargo & Company upped their price objective on Zimmer Biomet from $103.00 to $113.00 and gave the company an “equal weight” rating in a research note on Thursday, November 5th. Weiss Ratings upgraded Zimmer Biomet from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 14th. Stifel Nicolaus set a $125.00 target price on Zimmer Biomet in a research report on Wednesday, November 4th. Sanford C. Bernstein boosted their price target on Zimmer Biomet from $93.00 to $107.00 and gave the company a “market perform” rating in a report on Thursday, November 5th. Finally, Zacks Research raised Zimmer Biomet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Seven investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.74.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc. develops and manufactures medical devices and technologies used in musculoskeletal care. Its products support orthopedic procedures involving the hip, knee, shoulder, and extremities, as well as trauma care, sports medicine, and related surgical applications. The company also offers surgical technologies, including robotic and digital solutions designed to assist clinicians with planning and performing procedures. Its products and services are used by hospitals, surgeons, and other healthcare providers.