Charles Schwab Investment Management Inc. Lowers Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Charles Schwab Investment Management Inc. cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,211,001 shares of the medical equipment provider's stock after selling 13,561 shares during the period. Charles Schwab Investment Management Inc. owned 0.61% of Zimmer Biomet worth $130,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock worth $701,521,000 after buying an additional 722,041 shares in the last quarter. Van ECK Associates Corp boosted its position in 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 buying an additional 411,163 shares during the period. Victory Capital Management Inc. grew its stake in Zimmer Biomet by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider's stock worth $365,163,000 after acquiring an additional 211,637 shares in the last quarter. Boston Partners increased its position in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider's stock worth $437,413,000 after acquiring an additional 691,191 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Zimmer Biomet by 0.4% during the third 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 in the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded down $0.32 during midday trading on Tuesday, hitting $110.64. The company had a trading volume of 1,022,982 shares, compared to its average volume of 1,500,392. The stock has a market cap of $22.03 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.03 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $106.95 and a 200 day simple moving average of $109.47.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter last year, the company posted $1.65 earnings per share. The business's quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet's dividend payout ratio is presently 18.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. TD Cowen decreased their target price 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. Wells Fargo & Company lifted their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Royal Bank of Canada increased their target price 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. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research began coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a "peer perform" rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $123.22.

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.