Corbyn Investment Management Inc. MD Acquires 13,963 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Corbyn Investment Management Inc. MD grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 93.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,931 shares of the medical equipment provider's stock after acquiring an additional 13,963 shares during the period. Corbyn Investment Management Inc. MD's holdings in Zimmer Biomet were worth $3,123,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Zimmer Biomet in the 3rd quarter valued at about $28,000. Crewe Advisors LLC bought a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $31,000. Bangor Savings Bank acquired a new stake in Zimmer Biomet during the third quarter worth approximately $31,000. Family Firm Inc. bought a new position in Zimmer Biomet during the 2nd quarter worth $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Zimmer Biomet in the 2nd quarter valued at $43,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Trading Up 1.1 %

Shares of Zimmer Biomet stock traded up $1.24 on Monday, hitting $113.78. 1,035,290 shares of the company's stock traded hands, compared to its average volume of 1,494,170. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The company has a fifty day moving average of $106.28 and a two-hundred day moving average of $109.98. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90.

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

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.84%. Zimmer Biomet's payout ratio is currently 18.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating for the company in a research report on Tuesday, September 10th. Wells Fargo & Company boosted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. UBS Group reduced their target price on Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Finally, Wolfe Research started coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a "peer perform" rating on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $123.22.

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.