King Luther Capital Management Corp lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,085 shares of the medical equipment provider’s stock after purchasing an additional 162 shares during the period. King Luther Capital Management Corp’s holdings in Zimmer Biomet were worth $324,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of ZBH. Motco purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $26,000. Tcwp LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $32,000. Nvwm LLC boosted its holdings in shares of Zimmer Biomet by 150.0% during the first quarter. Nvwm LLC now owns 250 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 150 shares during the period. CKW Financial Group boosted its holdings in shares of Zimmer Biomet by 3,000.0% during the second quarter. CKW Financial Group now owns 310 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 300 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $34,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently issued reports on ZBH. Morgan Stanley increased their price target on shares of Zimmer Biomet from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $128.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, November 3rd. Jefferies Financial Group began coverage on shares of Zimmer Biomet in a research note on Wednesday, October 12th. They issued an “underperform” rating and a $95.00 price target for the company. Citigroup decreased their price target on shares of Zimmer Biomet from $119.00 to $116.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Finally, StockNews.com began coverage on shares of Zimmer Biomet in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $124.05.
Zimmer Biomet Price Performance
Zimmer Biomet (NYSE:ZBH – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.02. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. Zimmer Biomet had a net margin of 3.89% and a return on equity of 11.92%. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 earnings per share. As a group, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.84 earnings per share for the current fiscal year.
Zimmer Biomet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, September 29th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 72.73%.
Zimmer Biomet Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.
- Get a free copy of the StockNews.com research report on Zimmer Biomet (ZBH)
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