Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Trimmed by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,755 shares of the medical equipment provider’s stock after selling 182 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Zimmer Biomet were worth $1,047,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised 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 valued at $1,404,638,000 after buying an additional 1,215,935 shares during the period. American Century Companies Inc. increased its holdings in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares during the period. Boston Partners boosted its holdings in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares during the period. Van ECK Associates Corp grew its position in Zimmer Biomet by 11.3% during the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after purchasing an additional 320,002 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new position in Zimmer Biomet in the 1st quarter valued at approximately $30,300,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ZBH. Barclays lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Morgan Stanley dropped their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group reduced their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Raymond James dropped their price objective on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada reduced their target price on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $125.17.

Zimmer Biomet Trading Down 1.2 %

Shares of Zimmer Biomet stock opened at $106.50 on Thursday. The company has a market cap of $21.69 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.97 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. The company’s fifty day simple moving average is $109.86 and its 200-day simple moving average is $115.11. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data 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. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $1.82 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.01 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is presently 20.78%.

About Zimmer Biomet

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.