Equity Investment Corp Invests $70.10 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Equity Investment Corp purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 649,409 shares of the medical equipment provider's stock, valued at approximately $70,104,000. Equity Investment Corp owned approximately 0.33% of Zimmer Biomet as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ZBH. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet in the 3rd quarter valued at about $28,000. Crewe Advisors LLC purchased a new stake in Zimmer Biomet in the first quarter valued at approximately $31,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet in the third quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet during the second quarter worth approximately $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Zimmer Biomet in the 2nd quarter valued at $43,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded up $0.48 during midday trading on Monday, hitting $113.02. 1,877,488 shares of the stock were exchanged, compared to its average volume of 1,497,994. The stock has a market cap of $22.50 billion, a P/E ratio of 21.49, a PEG ratio of 2.07 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a 50 day moving average price of $106.45 and a 200-day moving average price of $109.94. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced 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 net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet's dividend payout ratio (DPR) is 18.25%.

Wall Street Analyst Weigh In

ZBH has been the topic of several research reports. Royal Bank of Canada raised their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Truist Financial raised their price target on Zimmer Biomet from $112.00 to $117.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Wolfe Research began coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a "peer perform" rating for the company. Evercore ISI lowered their target price on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 1st. Finally, Raymond James decreased their price target on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $123.22.

Zimmer Biomet 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.