NBC Securities Inc. Buys New Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

NBC Securities Inc. purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 980 shares of the medical equipment provider’s stock, valued at approximately $105,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in Zimmer Biomet during the first quarter worth approximately $31,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the third quarter worth $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet in the second quarter valued at $33,000. J.Safra Asset Management Corp lifted its position in Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Zimmer Biomet in the 2nd quarter worth about $43,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. UBS Group dropped their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Oppenheimer decreased their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. TD Cowen dropped their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Finally, BTIG Research reduced their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.94.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $106.31 on Monday. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The stock has a market cap of $21.87 billion, a P/E ratio of 23.01, a PEG ratio of 1.95 and a beta of 1.02. 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 firm has a 50-day moving average of $108.11 and a two-hundred day moving average of $112.19.

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 7.97 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 of this dividend 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%.

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.