NorthCrest Asset Manangement LLC Has $6.34 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

NorthCrest Asset Manangement LLC increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 58,698 shares of the medical equipment provider’s stock after buying an additional 535 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Zimmer Biomet were worth $6,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Price T Rowe Associates Inc. MD raised its position in shares of Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares in the last quarter. American Century Companies Inc. increased its stake in 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 valued at $701,521,000 after acquiring an additional 722,041 shares during the last quarter. Boston Partners increased its stake in Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares during the last quarter. Magnetar Financial LLC increased its stake in Zimmer Biomet by 58.7% in the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after acquiring an additional 484,816 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Zimmer Biomet by 329.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after acquiring an additional 375,929 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Truist Financial reaffirmed a “hold” rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Robert W. Baird decreased their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.94.

Zimmer Biomet Price Performance

ZBH stock opened at $102.35 on Friday. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.92 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The company’s fifty day simple moving average is $107.61 and its 200 day simple moving average is $111.47.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.94%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.