DAVENPORT & Co LLC Grows Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

DAVENPORT & Co LLC grew its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,060 shares of the medical equipment provider’s stock after acquiring an additional 2,227 shares during the period. DAVENPORT & Co LLC’s holdings in Zimmer Biomet were worth $3,697,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 2.6% in the 3rd 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 during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after acquiring an additional 411,163 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Zimmer Biomet by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after acquiring an additional 9,990 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after acquiring an additional 577,320 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Zimmer Biomet by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock worth $108,621,000 after buying an additional 4,388 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada increased their price target 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. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Oppenheimer lowered their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Finally, Raymond James lowered their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $124.11.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $108.12 on Tuesday. Zimmer Biomet Holdings, Inc. has a 52 week low of $100.67 and a 52 week high of $133.90. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. The firm has a 50-day simple moving average of $107.94 and a 200-day simple moving average of $108.24. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date was Monday, December 30th. Zimmer Biomet’s payout ratio is currently 18.25%.

Zimmer Biomet Company 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.