Victory Capital Management Inc. Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Victory Capital Management Inc. trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,181,526 shares of the medical equipment provider's stock after selling 183,098 shares during the period. Victory Capital Management Inc. owned about 1.60% of Zimmer Biomet worth $343,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider's stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. American Century Companies Inc. grew its holdings in Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Van ECK Associates Corp increased its stake in Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider's stock worth $391,239,000 after acquiring an additional 411,163 shares during the last quarter. Boston Partners raised its holdings in shares of Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider's stock worth $437,413,000 after acquiring an additional 691,191 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Zimmer Biomet by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider's stock valued at $277,357,000 after acquiring an additional 9,990 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ZBH shares. Truist Financial upped their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a "hold" rating in a research note on Friday, November 1st. UBS Group reduced their price objective 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. Morgan Stanley dropped their target price 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. Robert W. Baird lowered their price target on Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company increased their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $124.11.

Zimmer Biomet Stock Up 0.4 %

Shares of NYSE:ZBH traded up $0.49 during trading on Tuesday, reaching $109.95. The stock had a trading volume of 1,275,216 shares, compared to its average volume of 1,489,642. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $21.89 billion, a P/E ratio of 20.82, a PEG ratio of 1.99 and a beta of 1.02. The firm's 50-day simple moving average is $106.26 and its 200 day simple moving average is $110.25. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet's payout ratio is 18.25%.

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.