Culbertson A N & Co. Inc. Grows Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Culbertson A N & Co. Inc. grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,813 shares of the medical equipment provider’s stock after purchasing an additional 550 shares during the period. Culbertson A N & Co. Inc.’s holdings in Zimmer Biomet were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZBH. M&G Plc acquired a new stake in shares of Zimmer Biomet in the 1st quarter worth $7,397,000. AMF Tjanstepension AB acquired a new stake in Zimmer Biomet during the first quarter worth about $30,300,000. Factory Mutual Insurance Co. purchased a new position in Zimmer Biomet during the first quarter worth about $10,862,000. Gradient Investments LLC boosted its holdings in Zimmer Biomet by 17.3% in the 2nd quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock valued at $14,147,000 after purchasing an additional 19,224 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Zimmer Biomet by 7.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock valued at $30,265,000 after buying an additional 15,548 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 0.8 %

Shares of NYSE:ZBH opened at $105.45 on Thursday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The firm’s 50 day moving average price is $108.22 and its 200 day moving average price is $112.64. 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 stock has a market cap of $21.69 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 1.93 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 (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 EPS. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.98 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm 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 $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s payout ratio is currently 20.78%.

Wall Street Analyst Weigh In

ZBH has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Evercore ISI decreased their price target on 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. TD Cowen cut their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. decreased their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Oppenheimer dropped their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target of $123.74.

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.