Bridge Creek Capital Management LLC Raises Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bridge Creek Capital Management LLC boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,621 shares of the medical equipment provider’s stock after purchasing an additional 460 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Zimmer Biomet were worth $2,812,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ZBH. Geode Capital Management LLC raised its holdings in Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares in the last quarter. M&T Bank Corp grew its stake in Zimmer Biomet by 48.4% in the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after purchasing an additional 8,709 shares in the last quarter. National Pension Service raised its stake in Zimmer Biomet by 3.8% during the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock valued at $39,893,000 after buying an additional 13,612 shares in the last quarter. River Global Investors LLP lifted its holdings in Zimmer Biomet by 31.3% during the 3rd quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after buying an additional 5,030 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd grew its position in shares of Zimmer Biomet by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 155,254 shares of the medical equipment provider’s stock worth $16,711,000 after acquiring an additional 6,623 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ZBH. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. BTIG Research lowered their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Barclays reduced their price target on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.33.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $0.98 during trading hours on Monday, hitting $105.52. 651,625 shares of the company traded hands, compared to its average volume of 1,605,424. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.96 and a beta of 1.02. The firm has a 50-day moving average of $108.03 and a 200 day moving average of $108.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $100.67 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

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.