Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stock Holdings Lessened by Quest Partners LLC

Quest Partners LLC lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 42.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,561 shares of the medical equipment provider’s stock after selling 7,817 shares during the quarter. Quest Partners LLC’s holdings in Zimmer Biomet were worth $1,140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Equity Investment Corp bought a new position in shares of Zimmer Biomet in the third quarter valued at approximately $70,104,000. Swiss National Bank raised its position in shares of Zimmer Biomet by 0.6% in the third quarter. Swiss National Bank now owns 610,700 shares of the medical equipment provider’s stock valued at $65,925,000 after purchasing an additional 3,500 shares during the period. AM Squared Ltd raised its position in shares of Zimmer Biomet by 75.0% in the third quarter. AM Squared Ltd now owns 700 shares of the medical equipment provider’s stock valued at $76,000 after purchasing an additional 300 shares during the period. Natixis Advisors LLC raised its position in shares of Zimmer Biomet by 24.7% in the third quarter. Natixis Advisors LLC now owns 63,651 shares of the medical equipment provider’s stock valued at $6,871,000 after purchasing an additional 12,602 shares during the period. Finally, Simplify Asset Management Inc. raised its position in shares of Zimmer Biomet by 73.5% in the third quarter. Simplify Asset Management Inc. now owns 3,535 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 1,497 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Down 1.5 %

Shares of ZBH stock opened at $109.31 on Thursday. The company has a market cap of $21.76 billion, a P/E ratio of 20.78, a PEG ratio of 2.08 and a beta of 1.02. The stock has a 50 day simple moving average of $106.65 and a two-hundred day simple moving average of $109.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced 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. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced 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 of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Zimmer Biomet’s payout ratio is 18.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. UBS Group dropped their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird lowered their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.22.

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.