Bartlett & Co. LLC Grows Stake in Zimmer Biomet Holdings Inc (NYSE:ZBH)
Bartlett & Co. LLC grew its position in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 18.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,765 shares of the medical equipment provider’s stock after purchasing an additional 730 shares during the quarter. Bartlett & Co. LLC’s holdings in Zimmer Biomet were worth $654,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Personal Wealth Partners purchased a new position in Zimmer Biomet in the second quarter worth $26,000. TRUE Private Wealth Advisors purchased a new position in Zimmer Biomet in the second quarter worth $26,000. Allworth Financial LP grew its holdings in Zimmer Biomet by 65.0% in the third quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Coastal Investment Advisors Inc. grew its holdings in Zimmer Biomet by 271.0% in the second quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 187 shares during the last quarter. Finally, Private Ocean LLC grew its holdings in Zimmer Biomet by 34.8% in the second quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 80 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.
ZBH has been the topic of several analyst reports. Barclays raised shares of Zimmer Biomet from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $117.00 to $140.00 in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of Zimmer Biomet from $150.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, July 29th. They noted that the move was a valuation call. UBS Group lifted their price target on shares of Zimmer Biomet from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James lifted their price target on shares of Zimmer Biomet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Zimmer Biomet in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Zimmer Biomet currently has an average rating of “Buy” and a consensus target price of $147.95.
NYSE:ZBH opened at $144.00 on Friday. Zimmer Biomet Holdings Inc has a 12 month low of $96.99 and a 12 month high of $144.96. The firm has a fifty day simple moving average of $137.06 and a 200-day simple moving average of $128.64. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $28.81 billion, a P/E ratio of 18.85, a PEG ratio of 2.66 and a beta of 1.14.
Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.02. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a negative net margin of 1.14% and a positive return on equity of 13.89%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. Equities analysts forecast that Zimmer Biomet Holdings Inc will post 7.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.67%. Zimmer Biomet’s dividend payout ratio is presently 12.57%.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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