Shapiro Capital Management LLC Increases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Shapiro Capital Management LLC lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,028,361 shares of the medical equipment provider’s stock after purchasing an additional 106,855 shares during the quarter. Zimmer Biomet comprises about 3.4% of Shapiro Capital Management LLC’s holdings, making the stock its 11th biggest holding. Shapiro Capital Management LLC owned about 0.50% of Zimmer Biomet worth $111,608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its position in shares of Zimmer Biomet by 5.3% in the 4th quarter. Corient Private Wealth LLC now owns 64,508 shares of the medical equipment provider’s stock valued at $7,851,000 after purchasing an additional 3,230 shares during the period. SageView Advisory Group LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $321,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Zimmer Biomet by 3.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 57,235 shares of the medical equipment provider’s stock worth $6,966,000 after purchasing an additional 1,935 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. boosted its holdings in shares of Zimmer Biomet by 18.3% during the fourth quarter. Eubel Brady & Suttman Asset Management Inc. now owns 224,360 shares of the medical equipment provider’s stock worth $27,305,000 after purchasing an additional 34,669 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Zimmer Biomet by 0.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 16,702 shares of the medical equipment provider’s stock valued at $2,033,000 after acquiring an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZBH. Raymond James reduced their target price on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup lowered their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Finally, Canaccord Genuity Group cut their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Stock Up 1.1 %

ZBH stock opened at $107.57 on Tuesday. The business has a 50-day simple moving average of $109.86 and a 200 day simple moving average of $115.25. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $22.13 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

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

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Zimmer Biomet’s 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.