ProShare Advisors LLC Increases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

ProShare Advisors LLC lifted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,927 shares of the medical equipment provider’s stock after buying an additional 1,722 shares during the quarter. ProShare Advisors LLC’s holdings in Zimmer Biomet were worth $3,248,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ZBH. TD Asset Management Inc grew its holdings in Zimmer Biomet by 10.1% in the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after purchasing an additional 15,552 shares during the period. Bank of Nova Scotia boosted its position in shares of Zimmer Biomet by 499.0% in the 4th quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock worth $16,397,000 after purchasing an additional 112,237 shares in the last quarter. Speece Thorson Capital Group Inc. grew its stake in shares of Zimmer Biomet by 13.8% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock worth $19,253,000 after buying an additional 19,144 shares during the last quarter. APG Asset Management US Inc. purchased a new position in Zimmer Biomet during the fourth quarter valued at $14,530,000. Finally, M&G Plc purchased a new position in Zimmer Biomet during the first quarter valued at $7,397,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Trading Up 1.2 %

Zimmer Biomet stock opened at $107.74 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a market cap of $22.17 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.97 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $109.77 and a two-hundred day simple moving average of $115.05.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.82 earnings per share. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.01 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.89%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Oppenheimer reduced their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Tuesday, September 17th. TD Cowen cut their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $125.17.

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.