Virtu Financial LLC Buys New Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Virtu Financial LLC purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,556 shares of the medical equipment provider’s stock, valued at approximately $2,557,000.

A number of other large investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Zimmer Biomet by 12.9% in 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 purchasing an additional 1,215,935 shares in the last quarter. American Century Companies Inc. lifted its position in Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Primecap Management Co. CA grew its stake in Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after buying an additional 484,151 shares during the period. Victory Capital Management Inc. increased its position in shares of Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after acquiring an additional 211,637 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Zimmer Biomet by 5.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after acquiring an additional 167,038 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 1.1 %

Shares of NYSE:ZBH opened at $106.24 on Wednesday. The company’s fifty day moving average is $109.93 and its two-hundred day moving average is $115.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $133.90. The stock has a market capitalization of $21.64 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of research reports. Oppenheimer decreased their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Barclays lowered their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Tuesday. Finally, Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.