Mill Creek Capital Advisors LLC Purchases 106 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mill Creek Capital Advisors LLC grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,195 shares of the medical equipment provider’s stock after purchasing an additional 106 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Zimmer Biomet were worth $238,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Marshall Wace LLP bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth approximately $6,078,000. Providence Capital Advisors LLC raised its position in Zimmer Biomet by 540,000.0% in the 2nd quarter. Providence Capital Advisors LLC now owns 48,609 shares of the medical equipment provider’s stock worth $5,276,000 after purchasing an additional 48,600 shares during the period. Magnetar Financial LLC lifted 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 worth $142,203,000 after purchasing an additional 484,816 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Zimmer Biomet by 74.5% during the second quarter. Public Sector Pension Investment Board now owns 8,020 shares of the medical equipment provider’s stock valued at $870,000 after buying an additional 3,423 shares during the last quarter. Finally, Certified Advisory Corp lifted its stake in shares of Zimmer Biomet by 10.6% in the 2nd quarter. Certified Advisory Corp now owns 2,095 shares of the medical equipment provider’s stock valued at $227,000 after acquiring an additional 200 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ZBH. Wolfe Research began coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. TD Cowen dropped their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $115.00 in a research report on Monday, July 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target of $125.17.

Zimmer Biomet Price Performance

Shares of ZBH opened at $107.85 on Wednesday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The firm’s 50-day simple moving average is $109.86 and its two-hundred day simple moving average is $115.11. The stock has a market cap of $21.96 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.01 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is 20.78%.

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.