Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stock Position Raised by Financial Advocates Investment Management

Financial Advocates Investment Management boosted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,053 shares of the medical equipment provider’s stock after purchasing an additional 103 shares during the period. Financial Advocates Investment Management’s holdings in Zimmer Biomet were worth $330,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its position in Zimmer Biomet by 12.3% during the third quarter. Pinnacle Associates Ltd. now owns 2,298 shares of the medical equipment provider’s stock valued at $248,000 after buying an additional 252 shares during the period. First Trust Direct Indexing L.P. grew its position in Zimmer Biomet by 13.7% during the third quarter. First Trust Direct Indexing L.P. now owns 7,836 shares of the medical equipment provider’s stock valued at $846,000 after purchasing an additional 943 shares in the last quarter. Galibier Capital Management Ltd. purchased a new position in shares of Zimmer Biomet during the 3rd quarter valued at $993,000. Highline Wealth Partners LLC purchased a new position in Zimmer Biomet in the third quarter valued at about $503,000. Finally, Nicholas Hoffman & Company LLC. purchased a new stake in shares of Zimmer Biomet during the 3rd quarter worth about $1,063,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Citigroup decreased their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a report on Thursday. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company raised their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $123.84.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $107.27 on Monday. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The stock has a market cap of $21.35 billion, a P/E ratio of 20.39, a PEG ratio of 1.96 and a beta of 1.02. The company’s 50-day simple moving average is $106.96 and its 200 day simple moving average is $110.73.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

About Zimmer Biomet

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.