E Fund Management Co. Ltd. Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

E Fund Management Co. Ltd. raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,917 shares of the medical equipment provider’s stock after purchasing an additional 189 shares during the period. E Fund Management Co. Ltd.’s holdings in Zimmer Biomet were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ZBH. Price T Rowe Associates Inc. MD boosted its position in Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after acquiring an additional 1,215,935 shares during the last quarter. American Century Companies Inc. lifted 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 period. Boston Partners boosted its holdings in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after purchasing an additional 484,151 shares during the period. Finally, Van ECK Associates Corp increased its stake in Zimmer Biomet by 11.3% in the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after purchasing an additional 320,002 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank of Canada lowered their price target on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Truist Financial reiterated a “hold” rating and issued a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. JPMorgan Chase & Co. dropped their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.17.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $106.32 on Friday. The firm has a 50-day moving average of $109.88 and a two-hundred day moving average of $115.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The stock has a market cap of $21.65 billion, a P/E ratio of 23.01, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $133.90.

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

Zimmer Biomet Dividend Announcement

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

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.