Wedge Capital Management L L P NC Grows Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wedge Capital Management L L P NC grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 14.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,232 shares of the medical equipment provider’s stock after purchasing an additional 13,497 shares during the period. Wedge Capital Management L L P NC’s holdings in Zimmer Biomet were worth $11,252,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ZBH. Chicago Partners Investment Group LLC lifted its holdings in Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock worth $349,000 after buying an additional 92 shares in the last quarter. Wellington Management Group LLP purchased a new position in Zimmer Biomet in the fourth quarter valued at about $1,335,000. SageView Advisory Group LLC acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $321,000. B. Riley Wealth Advisors Inc. increased its holdings in Zimmer Biomet by 4.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,414 shares of the medical equipment provider’s stock worth $416,000 after purchasing an additional 141 shares during the last quarter. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $297,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Morgan Stanley reduced their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Evercore ISI decreased their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Finally, Oppenheimer cut their price objective 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 given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $124.26.

Zimmer Biomet Price Performance

NYSE ZBH opened at $104.88 on Tuesday. The company has a 50-day moving average price of $108.33 and a two-hundred day moving average price of $112.88. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data 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. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 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.