Massachusetts Financial Services Co. MA Acquires 4,388 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Massachusetts Financial Services Co. MA increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,006,217 shares of the medical equipment provider’s stock after purchasing an additional 4,388 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Zimmer Biomet were worth $108,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth about $41,588,000. Foundry Partners LLC boosted its stake in Zimmer Biomet by 6.1% during the 3rd quarter. Foundry Partners LLC now owns 5,559 shares of the medical equipment provider’s stock worth $600,000 after acquiring an additional 322 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Zimmer Biomet during the third quarter valued at approximately $884,000. Intech Investment Management LLC increased its stake in Zimmer Biomet by 21.3% in the third quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock valued at $257,000 after purchasing an additional 417 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Zimmer Biomet in the third quarter worth $81,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 1.7 %

NYSE ZBH opened at $110.22 on Friday. The company has a market cap of $21.94 billion, a PE ratio of 20.95, a PEG ratio of 1.99 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The stock has a 50 day moving average of $106.79 and a 200-day moving average of $109.69. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38.

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

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is 18.25%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZBH. Canaccord Genuity Group decreased their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Robert W. Baird cut their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada increased their target price on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Evercore ISI cut their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Finally, TD Cowen lowered their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.