Equity Investment Corp Raises Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Equity Investment Corp grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 57.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,021,062 shares of the medical equipment provider’s stock after purchasing an additional 371,653 shares during the quarter. Zimmer Biomet comprises about 2.5% of Equity Investment Corp’s holdings, making the stock its 16th biggest holding. Equity Investment Corp’s holdings in Zimmer Biomet were worth $107,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC boosted its position in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet during the fourth quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in Zimmer Biomet in the 3rd quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in Zimmer Biomet during the 3rd quarter valued at about $35,000. Finally, Kentucky Trust Co bought a new stake in Zimmer Biomet during the 4th quarter valued at about $39,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

ZBH opened at $104.89 on Thursday. The company has a fifty day moving average of $105.81 and a 200 day moving average of $107.42. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The stock has a market capitalization of $20.88 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter last year, the firm earned $2.20 earnings per share. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Zimmer Biomet’s payout ratio is 21.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZBH. Raymond James lowered their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays dropped their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company upped their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus raised their target price on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet 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.