Hourglass Capital LLC Purchases 21,560 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Hourglass Capital LLC raised its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 47.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,435 shares of the medical equipment provider's stock after buying an additional 21,560 shares during the period. Zimmer Biomet comprises approximately 2.0% of Hourglass Capital LLC's investment portfolio, making the stock its 18th biggest position. Hourglass Capital LLC's holdings in Zimmer Biomet were worth $7,123,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Equity Investment Corp purchased a new stake in Zimmer Biomet in the 3rd quarter worth approximately $70,104,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Zimmer Biomet by 49.1% during the 3rd 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 in the last quarter. Van ECK Associates Corp grew its stake 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 last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Zimmer Biomet in the 3rd quarter valued at $41,588,000. Finally, FMR LLC grew its position in Zimmer Biomet by 27.6% in the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider's stock worth $80,999,000 after purchasing an additional 162,384 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 7th. Stifel Nicolaus boosted their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Truist Financial reiterated a "hold" rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of "Hold" and a consensus price target of $124.15.

Zimmer Biomet Stock Up 1.1 %

Shares of ZBH stock traded up $1.13 during mid-day trading on Wednesday, reaching $103.31. 2,236,659 shares of the company's stock traded hands, compared to its average volume of 1,916,930. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90. The company has a market cap of $20.57 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.89 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 company's 50-day moving average price is $106.04 and its 200-day moving average price is $107.54.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the previous year, the business posted $2.20 EPS. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet's payout ratio is currently 21.57%.

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.