Varma Mutual Pension Insurance Co Grows Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Varma Mutual Pension Insurance Co increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 107,612 shares of the medical equipment provider’s stock after buying an additional 7,212 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Zimmer Biomet were worth $11,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC increased its stake in Zimmer Biomet by 12.3% during the 4th quarter. Private Advisor Group LLC now owns 10,610 shares of the medical equipment provider’s stock valued at $1,291,000 after purchasing an additional 1,164 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Zimmer Biomet by 86.8% in the 4th quarter. Apollon Wealth Management LLC now owns 4,085 shares of the medical equipment provider’s stock worth $497,000 after acquiring an additional 1,898 shares during the last quarter. Principal Securities Inc. bought a new position in Zimmer Biomet in the 4th quarter valued at approximately $237,000. BNP Paribas Financial Markets boosted its stake in Zimmer Biomet by 1.3% during the 4th quarter. BNP Paribas Financial Markets now owns 200,928 shares of the medical equipment provider’s stock valued at $24,453,000 after purchasing an additional 2,525 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Zimmer Biomet by 3.7% in the 4th quarter. QRG Capital Management Inc. now owns 4,393 shares of the medical equipment provider’s stock worth $535,000 after purchasing an additional 156 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Oppenheimer lowered their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Raymond James lowered their target price on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Tuesday, May 21st. Robert W. Baird decreased their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $126.00.

Zimmer Biomet Price Performance

NYSE ZBH opened at $104.81 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.92 and a beta of 1.02. The company’s 50 day moving average is $110.04 and its two-hundred day moving average is $116.80.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.82 EPS. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of 0.92%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

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.