Pathstone Holdings LLC Acquires 3,612 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Pathstone Holdings LLC lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 73,039 shares of the medical equipment provider’s stock after acquiring an additional 3,612 shares during the period. Pathstone Holdings LLC’s holdings in Zimmer Biomet were worth $7,885,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in Zimmer Biomet in the 1st quarter valued at $296,000. Bessemer Group Inc. lifted its holdings in shares of Zimmer Biomet by 13.0% during the first quarter. Bessemer Group Inc. now owns 4,220 shares of the medical equipment provider’s stock valued at $557,000 after acquiring an additional 487 shares during the period. Pitcairn Co. boosted its stake in shares of Zimmer Biomet by 17.2% in the 1st quarter. Pitcairn Co. now owns 2,657 shares of the medical equipment provider’s stock valued at $351,000 after purchasing an additional 389 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $31,000. Finally, EP Wealth Advisors LLC bought a new position in Zimmer Biomet during the 1st quarter valued at about $282,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $108.40 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $21.58 billion, a P/E ratio of 20.61, a PEG ratio of 2.04 and a beta of 1.02. The business has a 50-day moving average of $106.71 and a 200-day moving average of $109.85. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

Analyst Ratings Changes

ZBH has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. TD Cowen cut their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Truist Financial increased their target price on Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Raymond James cut their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Finally, UBS Group decreased 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. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.22.

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.