M&G Plc Purchases 21,251 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

M&G PLC increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 26.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,536 shares of the medical equipment provider's stock after purchasing an additional 21,251 shares during the quarter. M&G PLC's holdings in Zimmer Biomet were worth $10,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Advisor Group LLC grew its holdings in shares of Zimmer Biomet by 2.2% during the first quarter. Private Advisor Group LLC now owns 10,846 shares of the medical equipment provider's stock valued at $1,431,000 after buying an additional 236 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Zimmer Biomet by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 15,154 shares of the medical equipment provider's stock valued at $2,006,000 after purchasing an additional 1,551 shares during the period. Empirical Finance LLC lifted its position in shares of Zimmer Biomet by 3.5% in the first quarter. Empirical Finance LLC now owns 7,511 shares of the medical equipment provider's stock worth $991,000 after purchasing an additional 255 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Zimmer Biomet during the first quarter worth approximately $515,000. Finally, Empowered Funds LLC increased its stake in Zimmer Biomet by 50.6% in the 1st quarter. Empowered Funds LLC now owns 3,757 shares of the medical equipment provider's stock valued at $496,000 after buying an additional 1,262 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.51 during mid-day trading on Friday, hitting $108.18. 1,140,766 shares of the stock traded hands, compared to its average volume of 1,491,025. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The firm has a 50 day simple moving average of $106.37 and a two-hundred day simple moving average of $110.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company has a market cap of $21.54 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02.

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

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet's dividend payout ratio is 18.25%.

Analysts Set New Price Targets

ZBH has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. 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 research note on Monday, September 16th. Raymond James cut their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating on the stock in a research report on Monday, October 14th. Canaccord Genuity Group decreased their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating for the company in a report on Tuesday, September 10th. Finally, Morgan Stanley reduced their price target on Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $124.11.

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.