CIBC Asset Management Inc Purchases 2,039 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

CIBC Asset Management Inc grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,718 shares of the medical equipment provider’s stock after buying an additional 2,039 shares during the quarter. CIBC Asset Management Inc’s holdings in Zimmer Biomet were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Sivik Global Healthcare LLC acquired a new stake in Zimmer Biomet during the 3rd quarter valued at $4,318,000. Metis Global Partners LLC increased its stake in shares of Zimmer Biomet by 6.0% in the third quarter. Metis Global Partners LLC now owns 11,885 shares of the medical equipment provider’s stock valued at $1,283,000 after buying an additional 671 shares in the last quarter. KBC Group NV raised its holdings in shares of Zimmer Biomet by 64.0% in the third quarter. KBC Group NV now owns 25,287 shares of the medical equipment provider’s stock valued at $2,730,000 after buying an additional 9,864 shares during the last quarter. Hourglass Capital LLC grew its holdings in Zimmer Biomet by 3.7% during the 3rd quarter. Hourglass Capital LLC now owns 45,875 shares of the medical equipment provider’s stock worth $4,952,000 after acquiring an additional 1,625 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd increased its position in Zimmer Biomet by 4.6% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 84,999 shares of the medical equipment provider’s stock valued at $9,176,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the topic of several research analyst reports. Robert W. Baird decreased their price target 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. Evercore ISI decreased their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company boosted their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Wolfe Research started coverage on Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Finally, TD Cowen dropped their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Trading Up 0.4 %

NYSE ZBH opened at $113.02 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The stock’s 50-day moving average is $106.45 and its 200-day moving average is $109.94. The firm has a market cap of $22.50 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.07 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates 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 quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, September 30th. 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.