Magnetar Financial LLC Increases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Magnetar Financial LLC raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 58.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,310,265 shares of the medical equipment provider's stock after purchasing an additional 484,816 shares during the quarter. Zimmer Biomet accounts for 3.0% of Magnetar Financial LLC's portfolio, making the stock its biggest position. Magnetar Financial LLC owned 0.64% of Zimmer Biomet worth $142,203,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in ZBH. Public Sector Pension Investment Board raised its holdings in Zimmer Biomet by 74.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 8,020 shares of the medical equipment provider's stock valued at $870,000 after buying an additional 3,423 shares during the last quarter. Certified Advisory Corp raised its stake in shares of Zimmer Biomet by 10.6% during the second quarter. Certified Advisory Corp now owns 2,095 shares of the medical equipment provider's stock valued at $227,000 after acquiring an additional 200 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Zimmer Biomet by 16.6% during the second quarter. 1832 Asset Management L.P. now owns 16,340 shares of the medical equipment provider's stock worth $1,773,000 after purchasing an additional 2,324 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Zimmer Biomet by 6.1% during the second quarter. ProShare Advisors LLC now owns 29,927 shares of the medical equipment provider's stock worth $3,248,000 after purchasing an additional 1,722 shares during the period. Finally, Auxier Asset Management grew its stake in shares of Zimmer Biomet by 0.9% in the second quarter. Auxier Asset Management now owns 61,503 shares of the medical equipment provider's stock worth $6,675,000 after purchasing an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Up 1.1 %

NYSE ZBH traded up $1.15 during mid-day trading on Monday, reaching $107.57. The stock had a trading volume of 1,292,911 shares, compared to its average volume of 1,503,056. The stock has a market cap of $22.13 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The company has a fifty day moving average price of $109.83 and a 200 day moving average price of $115.38.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company posted $1.82 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet's payout ratio is 20.78%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Robert W. Baird dropped their price objective on Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group cut their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating on the stock in a report on Tuesday, September 10th. Evercore ISI restated an "in-line" rating and issued a $113.00 price objective on shares of Zimmer Biomet in a report on Thursday, September 5th. Morgan Stanley cut their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Monday, July 15th. Finally, Citigroup decreased their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a "neutral" rating for the company in a research note on Wednesday, July 10th. 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $125.17.

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.