Nisa Investment Advisors LLC Decreases Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Nisa Investment Advisors LLC reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 9.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,370 shares of the medical equipment provider's stock after selling 6,237 shares during the period. Nisa Investment Advisors LLC's holdings in Zimmer Biomet were worth $6,748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZBH. M&G Plc purchased a new position in shares of Zimmer Biomet during the first quarter valued at approximately $7,397,000. Gradient Investments LLC lifted its holdings in shares of Zimmer Biomet by 17.3% during the 2nd quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider's stock valued at $14,147,000 after buying an additional 19,224 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Zimmer Biomet by 7.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider's stock worth $30,265,000 after acquiring an additional 15,548 shares during the period. Swedbank AB purchased a new stake in Zimmer Biomet during the first quarter valued at $2,740,000. Finally, Forsta AP Fonden lifted its holdings in Zimmer Biomet by 95.1% in the first quarter. Forsta AP Fonden now owns 99,100 shares of the medical equipment provider's stock valued at $13,079,000 after acquiring an additional 48,300 shares during the period. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Trading Up 0.3 %

NYSE ZBH traded up $0.35 during trading on Friday, hitting $107.27. The stock had a trading volume of 1,890,997 shares, compared to its average volume of 1,491,439. The stock has a 50 day simple moving average of $106.96 and a 200 day simple moving average of $110.89. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.36. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.02 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.01). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 earnings per share. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company 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 of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.89%. Zimmer Biomet's dividend payout ratio (DPR) is currently 18.25%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ZBH shares. BTIG Research reduced their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating for the company in a research report on Thursday, October 3rd. Citigroup cut their price target on Zimmer Biomet from $134.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday, July 10th. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, September 10th. TD Cowen reduced their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a "hold" rating for the company in a report on Friday, September 6th. Finally, Oppenheimer dropped their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and a consensus target price of $123.84.

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.