MQS Management LLC Buys New Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

MQS Management LLC bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,302 shares of the medical equipment provider’s stock, valued at approximately $901,000. Zimmer Biomet comprises 0.5% of MQS Management LLC’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds have also recently bought and sold shares of ZBH. Janney Montgomery Scott LLC raised its holdings in shares of Zimmer Biomet by 21.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,295 shares of the medical equipment provider’s stock valued at $2,835,000 after purchasing an additional 4,141 shares during the period. Brown Advisory Inc. lifted its position in shares of Zimmer Biomet by 2.4% in the fourth quarter. Brown Advisory Inc. now owns 16,799 shares of the medical equipment provider’s stock valued at $2,044,000 after buying an additional 396 shares during the last quarter. Norges Bank bought a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $266,896,000. Coldstream Capital Management Inc. boosted its position in Zimmer Biomet by 6.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,842 shares of the medical equipment provider’s stock worth $346,000 after purchasing an additional 170 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of Zimmer Biomet by 18.9% in the fourth quarter. D.A. Davidson & CO. now owns 12,465 shares of the medical equipment provider’s stock valued at $1,517,000 after purchasing an additional 1,984 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price for the company. Royal Bank of Canada lowered their target price on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Truist Financial reissued a “hold” rating and issued a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. TD Cowen decreased their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Citigroup dropped their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Trading Up 0.1 %

Shares of NYSE ZBH opened at $106.34 on Thursday. The stock has a market cap of $21.66 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The firm has a 50 day moving average price of $109.92 and a two-hundred day moving average price of $115.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $1.82 EPS. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced 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. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. 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.