Empowered Funds LLC Acquires 265 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Empowered Funds LLC lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,135 shares of the medical equipment provider’s stock after buying an additional 265 shares during the quarter. Empowered Funds LLC’s holdings in Zimmer Biomet were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ZBH. EP Wealth Advisors LLC bought a new stake in Zimmer Biomet in the first quarter valued at $282,000. 1832 Asset Management L.P. increased its position in Zimmer Biomet by 2.0% in the 1st quarter. 1832 Asset Management L.P. now owns 14,016 shares of the medical equipment provider’s stock valued at $1,850,000 after buying an additional 275 shares in the last quarter. LRI Investments LLC acquired a new position in Zimmer Biomet during the 1st quarter worth approximately $68,000. Kennedy Capital Management LLC bought a new position in Zimmer Biomet in the first quarter worth approximately $1,837,000. Finally, California State Teachers Retirement System grew its stake in Zimmer Biomet by 1.4% in the first quarter. California State Teachers Retirement System now owns 339,631 shares of the medical equipment provider’s stock valued at $44,824,000 after acquiring an additional 4,751 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 1.7 %

ZBH opened at $110.22 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The stock’s 50 day moving average price is $106.79 and its 200-day moving average price is $109.62. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.03 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ZBH shares. Evercore ISI cut their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price objective 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, September 16th. TD Cowen decreased their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Wells Fargo & Company lifted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Truist Financial increased their price objective on Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $123.22.

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.