DekaBank Deutsche Girozentrale Raises Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

DekaBank Deutsche Girozentrale increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 280,307 shares of the medical equipment provider’s stock after buying an additional 3,672 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Zimmer Biomet were worth $30,314,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ZBH. American Century Companies Inc. increased its stake in shares of Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in shares of Zimmer Biomet by 3.7% in the second quarter. Bahl & Gaynor Inc. now owns 8,714 shares of the medical equipment provider’s stock valued at $946,000 after buying an additional 311 shares during the period. Headlands Technologies LLC lifted its position in shares of Zimmer Biomet by 895.5% during the 2nd quarter. Headlands Technologies LLC now owns 15,131 shares of the medical equipment provider’s stock valued at $1,642,000 after buying an additional 13,611 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. grew its stake in shares of Zimmer Biomet by 2.9% during the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 229,375 shares of the medical equipment provider’s stock worth $24,894,000 after acquiring an additional 6,372 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in Zimmer Biomet by 13.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 23,515 shares of the medical equipment provider’s stock worth $2,552,000 after acquiring an additional 2,698 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. Finally, Oppenheimer reduced their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $125.44.

Zimmer Biomet Price Performance

ZBH stock opened at $106.26 on Friday. The firm has a 50 day simple moving average of $109.90 and a two-hundred day simple moving average of $116.09. The stock has a market cap of $21.64 billion, a PE ratio of 23.00, a P/E/G ratio of 1.92 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio is 20.78%.

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.