Rathbones Group PLC Has $2.18 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Rathbones Group PLC lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 43.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,060 shares of the medical equipment provider’s stock after selling 15,384 shares during the period. Rathbones Group PLC’s holdings in Zimmer Biomet were worth $2,177,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $266,896,000. Price T Rowe Associates Inc. MD lifted its position in Zimmer Biomet by 12.9% during 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 purchasing an additional 1,215,935 shares during the period. American Century Companies Inc. grew its stake in Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after buying an additional 722,041 shares in the last quarter. Boston Partners increased its holdings in Zimmer Biomet by 26.3% in the 1st 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 period. Finally, Primecap Management Co. CA raised its position in shares of Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after buying an additional 484,151 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, August 8th. Oppenheimer dropped their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup decreased their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Stock Up 1.1 %

Shares of NYSE:ZBH opened at $107.38 on Tuesday. The firm has a market cap of $22.09 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.92 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $133.90. The business has a fifty day simple moving average of $109.92 and a 200 day simple moving average of $115.91. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.82 EPS. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s 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.