15,420 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,420 shares of the medical equipment provider’s stock, valued at approximately $1,674,000.

Other institutional investors have also added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A purchased a new position in shares of Zimmer Biomet in the fourth quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet during the fourth quarter valued at $30,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter worth $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth about $33,000. Finally, J.Safra Asset Management Corp raised its position in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 0.0 %

ZBH opened at $106.32 on Friday. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90. The company has a market capitalization of $21.65 billion, a P/E ratio of 23.01, a PEG ratio of 1.96 and a beta of 1.02. The stock’s fifty day moving average is $109.88 and its two-hundred day moving average is $115.65. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm 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. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Robert W. Baird dropped 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. Oppenheimer dropped their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. Citigroup dropped their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday. Two equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.17.

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.