Sivik Global Healthcare LLC Buys New Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sivik Global Healthcare LLC purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the medical equipment provider's stock, valued at approximately $4,318,000. Zimmer Biomet comprises about 1.8% of Sivik Global Healthcare LLC's portfolio, making the stock its 27th biggest holding.

Other large investors have also recently bought and sold shares of the company. Metis Global Partners LLC grew its holdings in Zimmer Biomet by 6.0% in the third quarter. Metis Global Partners LLC now owns 11,885 shares of the medical equipment provider's stock worth $1,283,000 after purchasing an additional 671 shares during the period. KBC Group NV lifted its stake in shares of Zimmer Biomet by 64.0% in the third quarter. KBC Group NV now owns 25,287 shares of the medical equipment provider's stock valued at $2,730,000 after buying an additional 9,864 shares in the last quarter. Hourglass Capital LLC grew its holdings in shares of Zimmer Biomet by 3.7% during the third quarter. Hourglass Capital LLC now owns 45,875 shares of the medical equipment provider's stock valued at $4,952,000 after buying an additional 1,625 shares during the last quarter. ICICI Prudential Asset Management Co Ltd increased its position in shares of Zimmer Biomet by 4.6% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 84,999 shares of the medical equipment provider's stock worth $9,176,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Zimmer Biomet by 8.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,995 shares of the medical equipment provider's stock valued at $2,698,000 after acquiring an additional 1,977 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded down $1.12 during trading hours on Thursday, reaching $108.85. 2,057,881 shares of the stock traded hands, compared to its average volume of 1,491,242. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 2.02 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $106.04 and a 200 day moving average price of $110.19.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates 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 was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet's payout ratio is 18.25%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating for the company in a research note on Tuesday, September 10th. Evercore ISI cut their target price on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 1st. BTIG Research decreased their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Finally, Robert W. Baird cut their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $123.22.

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.