Renaissance Technologies LLC Invests $19.63 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Renaissance Technologies LLC purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 180,900 shares of the medical equipment provider’s stock, valued at approximately $19,633,000. Renaissance Technologies LLC owned 0.09% of Zimmer Biomet as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Asset Management Inc boosted its position in shares of Zimmer Biomet by 10.1% during the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after buying an additional 15,552 shares during the period. Bank of Nova Scotia raised its stake in shares of Zimmer Biomet by 499.0% in the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after acquiring an additional 112,237 shares in the last quarter. Speece Thorson Capital Group Inc. raised its stake in shares of Zimmer Biomet by 13.8% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock valued at $19,253,000 after acquiring an additional 19,144 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $14,530,000. Finally, M&G Plc acquired a new stake in shares of Zimmer Biomet in the first quarter valued at $7,397,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. JPMorgan Chase & Co. reduced their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Evercore ISI reiterated an “in-line” rating and issued a $113.00 price objective on shares of Zimmer Biomet in a research note on Thursday, September 5th. Citigroup cut their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Robert W. Baird cut their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.17.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $106.42 on Friday. The stock’s 50-day moving average is $109.83 and its two-hundred day moving average is $115.52. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. 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 (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $1.82 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Zimmer Biomet Company 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.