Nicholas Hoffman & Company LLC. Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Nicholas Hoffman & Company LLC. purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,844 shares of the medical equipment provider’s stock, valued at approximately $1,063,000.

Other hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $31,000. Bangor Savings Bank purchased a new stake in Zimmer Biomet in the third quarter valued at $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet during the 2nd quarter worth $33,000. J.Safra Asset Management Corp increased its position in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Zimmer Biomet in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 0.3 %

NYSE:ZBH opened at $103.88 on Wednesday. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The stock has a market cap of $21.37 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.88 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a 50-day simple moving average of $107.29 and a 200-day simple moving average of $111.04.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business earned $1.82 EPS. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.92%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZBH. Evercore ISI dropped their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Tuesday, September 17th. Royal Bank of Canada dropped their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, Citigroup decreased their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $123.94.

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.