Van ECK Associates Corp Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Van ECK Associates Corp raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,736,761 shares of the medical equipment provider's stock after purchasing an additional 411,163 shares during the period. Van ECK Associates Corp owned 1.82% of Zimmer Biomet worth $391,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZBH. Price T Rowe Associates Inc. MD grew its stake in Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider's stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares during the last quarter. American Century Companies Inc. grew its stake in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock valued at $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Boston Partners grew its stake in Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider's stock valued at $437,413,000 after purchasing an additional 691,191 shares during the last quarter. Magnetar Financial LLC grew its stake in Zimmer Biomet by 58.7% in the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider's stock valued at $142,203,000 after purchasing an additional 484,816 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in Zimmer Biomet by 329.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider's stock valued at $53,195,000 after purchasing an additional 375,929 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ZBH shares. UBS Group cut their target price on Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating on the stock in a research note on Thursday, August 8th. Citigroup lowered 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 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. Truist Financial raised their price target on Zimmer Biomet from $112.00 to $117.00 and gave the stock a "hold" rating in a report on Friday. Finally, Wells Fargo & Company raised their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an "equal weight" rating in a report on Thursday. Two equities 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 company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $123.84.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $0.35 during trading hours on Friday, reaching $107.27. The company had a trading volume of 1,905,699 shares, compared to its average volume of 1,409,299. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The firm has a market cap of $21.35 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business's 50 day moving average price is $106.96 and its 200-day moving average price is $110.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.74. 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%. Zimmer Biomet's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

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.