Border to Coast Pensions Partnership Ltd Increases Stock Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Border to Coast Pensions Partnership Ltd increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 360,462 shares of the medical equipment provider’s stock after acquiring an additional 22,104 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Zimmer Biomet were worth $35,506,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Rakuten Investment Management Inc. bought a new position in Zimmer Biomet during the 3rd quarter worth approximately $37,307,000. Sector Gamma AS raised its position in shares of Zimmer Biomet by 28.0% during the 3rd quarter. Sector Gamma AS now owns 113,478 shares of the medical equipment provider’s stock valued at $11,178,000 after acquiring an additional 24,847 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake in Zimmer Biomet by 5.7% during the second quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock worth $6,197,000 after purchasing an additional 3,634 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Zimmer Biomet by 29.2% in the third quarter. SG Americas Securities LLC now owns 61,110 shares of the medical equipment provider’s stock worth $6,019,000 after purchasing an additional 13,812 shares during the period. Finally, Truist Financial Corp increased its stake in Zimmer Biomet by 34.4% during the second quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock valued at $2,446,000 after purchasing an additional 6,867 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 2.2%

ZBH opened at $88.08 on Thursday. The stock’s 50 day moving average price is $90.45 and its 200 day moving average price is $95.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.39. The stock has a market cap of $17.46 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.20 and a beta of 0.62. Zimmer Biomet Holdings, Inc. has a 12 month low of $84.59 and a 12 month high of $114.44.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business posted $1.74 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, December 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 23.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZBH shares. Royal Bank Of Canada reduced their price target on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Robert W. Baird reiterated a “neutral” rating and set a $100.00 price target (down from $117.00) on shares of Zimmer Biomet in a research report on Tuesday, December 16th. UBS Group cut their price target on Zimmer Biomet from $88.00 to $86.00 and set a “sell” rating on the stock in a report on Wednesday, January 28th. Johnson Rice set a $112.00 price objective on Zimmer Biomet in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $100.00 target price (down from $115.00) on shares of Zimmer Biomet in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average target price of $107.24.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.