Equity Investment Corp Invests $70.10 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Equity Investment Corp purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 649,409 shares of the medical equipment provider’s stock, valued at approximately $70,104,000. Equity Investment Corp owned about 0.33% of Zimmer Biomet at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank boosted its stake in shares of Zimmer Biomet by 0.6% in the 3rd quarter. Swiss National Bank now owns 610,700 shares of the medical equipment provider’s stock worth $65,925,000 after buying an additional 3,500 shares during the last quarter. AM Squared Ltd lifted its position in Zimmer Biomet by 75.0% during the third quarter. AM Squared Ltd now owns 700 shares of the medical equipment provider’s stock valued at $76,000 after purchasing an additional 300 shares in the last quarter. Natixis Advisors LLC lifted its position in Zimmer Biomet by 24.7% during the third quarter. Natixis Advisors LLC now owns 63,651 shares of the medical equipment provider’s stock valued at $6,871,000 after purchasing an additional 12,602 shares in the last quarter. Simplify Asset Management Inc. lifted its position in Zimmer Biomet by 73.5% during the third quarter. Simplify Asset Management Inc. now owns 3,535 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 1,497 shares in the last quarter. Finally, KCM Investment Advisors LLC lifted its position in Zimmer Biomet by 0.7% during the third quarter. KCM Investment Advisors LLC now owns 39,157 shares of the medical equipment provider’s stock valued at $4,227,000 after purchasing an additional 279 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 3.4 %

Shares of ZBH stock opened at $112.54 on Monday. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $106.28 and its 200-day moving average price is $109.98. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.85%. Zimmer Biomet’s payout ratio is currently 18.25%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ZBH shares. Canaccord Genuity Group lowered their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Royal Bank of Canada lifted their target price on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Robert W. Baird lowered their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. BTIG Research lowered their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, TD Cowen lowered their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.22.

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.