Ariel Investments LLC Acquires 8,592 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Ariel Investments LLC boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 297,401 shares of the medical equipment provider's stock after purchasing an additional 8,592 shares during the quarter. Ariel Investments LLC owned about 0.15% of Zimmer Biomet worth $32,277,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A bought a new stake in Zimmer Biomet in the fourth quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $30,000. Crewe Advisors LLC bought a new stake in shares of Zimmer Biomet during the first quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $33,000. Finally, J.Safra Asset Management Corp increased its holdings in shares of Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 235 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded up $0.85 during trading on Thursday, reaching $107.35. 25,729 shares of the stock traded hands, compared to its average volume of 1,493,400. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week 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 50-day moving average of $109.86 and a 200-day moving average of $115.11. The stock has a market capitalization of $21.86 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 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 analysts' expectations of $1.94 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.01 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on ZBH shares. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their price objective on Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Oppenheimer decreased their price target 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 decreased their price target on 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 decreased their price target on Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $125.17.

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.