Galibier Capital Management Ltd. Makes New $993,000 Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Galibier Capital Management Ltd. acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,200 shares of the medical equipment provider's stock, valued at approximately $993,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new position in shares of Zimmer Biomet during the third quarter worth $503,000. Nicholas Hoffman & Company LLC. purchased a new position in shares of Zimmer Biomet during the 3rd quarter valued at about $1,063,000. Integrated Advisors Network LLC acquired a new position in shares of Zimmer Biomet in the 3rd quarter valued at about $387,000. Smith Group Asset Management LLC grew its holdings in Zimmer Biomet by 2.0% during the third quarter. Smith Group Asset Management LLC now owns 150,160 shares of the medical equipment provider's stock worth $16,210,000 after acquiring an additional 2,941 shares during the period. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in Zimmer Biomet during the third quarter valued at approximately $380,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Raymond James dropped 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 note on Monday, October 14th. Morgan Stanley cut their price objective on Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating for the company in a research note on Monday, July 15th. Oppenheimer cut their price objective on Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a research note on Tuesday, October 15th. TD Cowen cut their price objective on Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating for the company in a research note on Friday, September 6th. Finally, Citigroup cut their price objective on 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 analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $123.94.

Zimmer Biomet Stock Performance

ZBH traded up $5.40 on Wednesday, reaching $109.28. The company had a trading volume of 2,197,798 shares, compared to its average volume of 1,481,461. The stock has a 50-day moving average price of $107.29 and a 200-day moving average price of $111.04. The stock has a market capitalization of $22.48 billion, a PE ratio of 22.48, a P/E/G ratio of 1.88 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the firm earned $1.82 EPS. The business's revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company 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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet's payout ratio is currently 20.78%.

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.