Janney Montgomery Scott LLC Buys 16,663 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Janney Montgomery Scott LLC boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 181.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,869 shares of the medical equipment provider's stock after purchasing an additional 16,663 shares during the period. Janney Montgomery Scott LLC's holdings in Zimmer Biomet were worth $2,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ZBH. Price T Rowe Associates Inc. MD grew its position 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 in the last quarter. American Century Companies Inc. grew its position 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 in the last quarter. Boston Partners lifted 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 acquiring an additional 691,191 shares during the last quarter. Magnetar Financial LLC lifted 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 acquiring an additional 484,816 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted 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 acquiring an additional 375,929 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZBH. Morgan Stanley cut their price target on shares of 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. Royal Bank of Canada increased their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Truist Financial increased 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. TD Cowen cut their price target on shares of 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, Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and a consensus target price of $124.11.

Zimmer Biomet Price Performance

ZBH stock traded up $0.49 during mid-day trading on Tuesday, hitting $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. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The firm has a market capitalization of $21.89 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.99 and a beta of 1.02. The firm has a fifty day simple moving average of $106.26 and a 200 day simple moving average of $110.25.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm earned $1.65 EPS. The business's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet's dividend payout ratio (DPR) is presently 18.25%.

Zimmer Biomet Company 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.