AlphaCentric Advisors LLC Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

AlphaCentric Advisors LLC bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,895 shares of the medical equipment provider's stock, valued at approximately $623,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock worth $524,942,000 after acquiring an additional 125,852 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock worth $417,814,000 after purchasing an additional 218,688 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Zimmer Biomet by 0.4% during 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 purchasing an additional 9,990 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position 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 worth $189,161,000 after purchasing an additional 577,320 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Zimmer Biomet by 0.4% during the 3rd 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 during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $0.98 during mid-day trading on Wednesday, reaching $103.16. 912,139 shares of the stock traded hands, compared to its average volume of 1,873,339. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $97.69 and a fifty-two week high of $133.90. The stock has a market capitalization of $20.54 billion, a PE ratio of 23.13, a PEG ratio of 1.89 and a beta of 1.02. The business has a 50-day moving average of $106.04 and a 200 day moving average of $107.54.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the previous year, the firm posted $2.20 EPS. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Monday, December 30th. Zimmer Biomet's dividend payout ratio (DPR) is 21.57%.

Analyst Upgrades and Downgrades

ZBH has been the subject of several recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Wells Fargo & Company lifted their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Barclays cut their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research note on Monday, February 10th. Truist Financial reissued a "hold" rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, Royal Bank of Canada reduced their target price on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $124.15.

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.