Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Bought by Olstein Capital Management L.P.

Olstein Capital Management L.P. raised its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the medical equipment provider’s stock after purchasing an additional 2,600 shares during the period. Zimmer Biomet accounts for approximately 1.5% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 22nd biggest holding. Olstein Capital Management L.P.’s holdings in Zimmer Biomet were worth $8,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZBH. Private Advisor Group LLC boosted its holdings in Zimmer Biomet by 2.2% in the first quarter. Private Advisor Group LLC now owns 10,846 shares of the medical equipment provider’s stock worth $1,431,000 after acquiring an additional 236 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Zimmer Biomet by 7.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,214 shares of the medical equipment provider’s stock worth $6,668,000 after purchasing an additional 3,682 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Zimmer Biomet by 11.4% in the first quarter. Nordea Investment Management AB now owns 15,154 shares of the medical equipment provider’s stock worth $2,006,000 after buying an additional 1,551 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Zimmer Biomet by 25.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,357 shares of the medical equipment provider’s stock worth $1,103,000 after buying an additional 1,670 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Zimmer Biomet by 172.3% during the first quarter. Larson Financial Group LLC now owns 934 shares of the medical equipment provider’s stock valued at $123,000 after buying an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Wolfe Research assumed coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Evercore ISI cut their price objective 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, Morgan Stanley decreased their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Price Performance

Shares of ZBH stock traded down $0.60 on Thursday, reaching $109.57. 23,089 shares of the company were exchanged, compared to its average volume of 1,485,898. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The business has a 50-day moving average price of $106.64 and a 200 day moving average price of $110.58. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.99 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

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.