Primecap Management Co. CA Sells 83,210 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Primecap Management Co. CA lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,971,380 shares of the medical equipment provider’s stock after selling 83,210 shares during the quarter. Primecap Management Co. CA’s holdings in Zimmer Biomet were worth $536,660,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet in the 1st quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new position in shares of Zimmer Biomet in the 3rd quarter valued at about $28,000. Bangor Savings Bank bought a new position in Zimmer Biomet during the 3rd quarter worth approximately $31,000. Family Firm Inc. bought a new position in Zimmer Biomet during the 2nd quarter worth approximately $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet during the 2nd quarter worth approximately $43,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $109.31 on Thursday. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a market cap of $21.76 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.04 and a beta of 1.02. The firm’s fifty day moving average price is $106.65 and its two-hundred day moving average price is $109.86. 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 announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.88%. Zimmer Biomet’s dividend payout ratio is 18.25%.

Analysts Set New Price Targets

ZBH has been the topic of several recent analyst reports. BTIG Research reduced their price objective 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. Oppenheimer reduced their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Raymond James cut their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet 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.