Equity Investment Corp Grows Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Equity Investment Corp increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 57.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,021,062 shares of the medical equipment provider's stock after acquiring an additional 371,653 shares during the quarter. Zimmer Biomet makes up about 2.5% of Equity Investment Corp's investment portfolio, making the stock its 16th largest position. Equity Investment Corp owned approximately 0.51% of Zimmer Biomet worth $107,855,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ZBH. Geode Capital Management LLC boosted its position 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 worth $524,942,000 after purchasing an additional 125,852 shares in the last quarter. Van ECK Associates Corp lifted its stake in Zimmer Biomet by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock valued at $417,814,000 after acquiring an additional 218,688 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Zimmer Biomet by 49.1% in the third 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 purchasing an additional 577,320 shares during the last quarter. Massachusetts Financial Services Co. MA grew 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 acquiring an additional 4,388 shares during the period. Finally, FMR LLC increased its holdings in shares of Zimmer Biomet by 27.6% during the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider's stock valued at $80,999,000 after purchasing an additional 162,384 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZBH has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. JMP Securities reissued a "market outperform" rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Stifel Nicolaus lifted their target price on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of "Hold" and an average target price of $124.15.

Zimmer Biomet Stock Up 0.3 %

Zimmer Biomet stock traded up $0.27 during mid-day trading on Friday, hitting $104.32. The company had a trading volume of 2,813,620 shares, compared to its average volume of 1,900,642. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $105.72 and a 200 day moving average of $107.37.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the company earned $2.20 earnings per share. On average, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.57%.

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.