Goelzer Investment Management Inc. Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Goelzer Investment Management Inc. lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,645 shares of the medical equipment provider’s stock after selling 1,041 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Zimmer Biomet were worth $609,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ZBH. Price T Rowe Associates Inc. MD grew its holdings in shares of Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after buying an additional 722,041 shares during the last quarter. Boston Partners grew its holdings in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after buying an additional 484,816 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Zimmer Biomet by 329.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock worth $53,195,000 after buying an additional 375,929 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen lowered their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Citigroup lowered their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Robert W. Baird lowered their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI reduced their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.05.

Zimmer Biomet Trading Up 0.5 %

Shares of ZBH opened at $104.68 on Friday. 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 simple moving average of $109.19 and a 200-day simple moving average of $114.07. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $133.90. The stock has a market cap of $21.54 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02.

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, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company posted $1.82 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 0.92%. Zimmer Biomet’s dividend payout ratio (DPR) is 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.