Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Bought by AM Squared Ltd

AM Squared Ltd grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 75.0% during the third quarter, Holdings Channel reports. The firm owned 700 shares of the medical equipment provider’s stock after purchasing an additional 300 shares during the period. AM Squared Ltd’s holdings in Zimmer Biomet were worth $76,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&G Plc acquired a new stake in Zimmer Biomet during the first quarter worth approximately $7,397,000. Gradient Investments LLC raised its holdings in Zimmer Biomet by 17.3% during the second quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock worth $14,147,000 after purchasing an additional 19,224 shares in the last quarter. National Pension Service raised its holdings in Zimmer Biomet by 3.8% during the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after purchasing an additional 13,612 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Zimmer Biomet by 7.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock valued at $30,265,000 after acquiring an additional 15,548 shares during the period. Finally, Swedbank AB acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $2,740,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZBH. BTIG Research cut their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. cut their target price 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. Raymond James cut their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. Finally, Wolfe Research began coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.22.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $112.54 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The stock has a market cap of $22.40 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The firm’s fifty day simple moving average is $106.28 and its 200-day simple moving average is $110.04.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. The firm had revenue of $1.82 billion for 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%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. Analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. Zimmer Biomet’s payout ratio is 18.25%.

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.