Waterfront Wealth Inc. Acquires 957 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Waterfront Wealth Inc. grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,053 shares of the medical equipment provider’s stock after purchasing an additional 957 shares during the period. Waterfront Wealth Inc.’s holdings in Zimmer Biomet were worth $1,308,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth $266,896,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Zimmer Biomet by 12.9% in 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 buying an additional 1,215,935 shares in 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 valued at $437,413,000 after buying an additional 691,191 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after acquiring an additional 484,151 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Zimmer Biomet by 11.3% in the 1st quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock worth $416,866,000 after acquiring an additional 320,002 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ZBH. Barclays reduced their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Raymond James decreased their target price on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their price target on shares of Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Thursday, August 8th. Finally, Citigroup lowered their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $126.41.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $0.79 during mid-day trading on Friday, reaching $115.46. 1,584,916 shares of the company traded hands, compared to its average volume of 1,266,446. The company’s 50 day moving average price is $109.76 and its 200-day moving average price is $117.33. The firm has a market cap of $23.51 billion, a PE ratio of 24.99, a PEG ratio of 2.06 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results 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 analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.06 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 given a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. Zimmer Biomet’s payout ratio is 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.