Brown Financial Advisors Takes $890,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brown Financial Advisors bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,205 shares of the medical equipment provider’s stock, valued at approximately $890,000.

A number of other institutional investors have also recently modified their holdings of ZBH. Price T Rowe Associates Inc. MD grew its position in shares of Zimmer Biomet by 12.9% during the 1st 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 acquiring an additional 1,215,935 shares during the period. American Century Companies Inc. grew its position in shares of Zimmer Biomet by 12.6% during 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 acquiring an additional 722,041 shares during the period. Boston Partners grew its position in shares of Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares during the period. Magnetar Financial LLC grew its position in shares of Zimmer Biomet by 58.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after acquiring an additional 484,816 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Zimmer Biomet by 329.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after acquiring an additional 375,929 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Down 0.6 %

Shares of NYSE ZBH opened at $107.34 on Wednesday. The company has a 50 day simple moving average of $109.55 and a 200-day simple moving average of $114.44. The company has a market capitalization of $22.08 billion, a P/E ratio of 23.23, a P/E/G ratio of 1.98 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8 earnings per share 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 issued a $0.24 dividend. The ex-dividend date 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 Upgrades and Downgrades

A number of research analysts recently weighed in on ZBH shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. UBS Group decreased their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Oppenheimer decreased their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Finally, Robert W. Baird decreased their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $125.00.

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.