Biechele Royce Advisors Buys 11,496 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Biechele Royce Advisors grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,110 shares of the medical equipment provider’s stock after acquiring an additional 11,496 shares during the quarter. Zimmer Biomet comprises approximately 2.4% of Biechele Royce Advisors’ portfolio, making the stock its 16th biggest position. Biechele Royce Advisors’ holdings in Zimmer Biomet were worth $7,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in Zimmer Biomet in the 1st quarter worth about $31,000. J.Safra Asset Management Corp increased its holdings in Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares in the last quarter. Bangor Savings Bank bought a new stake in Zimmer Biomet in the 3rd quarter worth about $31,000. Family Firm Inc. bought a new stake in Zimmer Biomet in the 2nd quarter worth about $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Zimmer Biomet in the 2nd quarter worth about $43,000. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ZBH. Citigroup reduced their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. TD Cowen dropped their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Raymond James dropped their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada dropped their target price on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, Evercore ISI dropped their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. 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 company’s stock. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $123.84.

Zimmer Biomet Price Performance

NYSE:ZBH traded up $0.35 during trading hours on Friday, reaching $107.27. The stock had a trading volume of 1,905,699 shares, compared to its average volume of 1,409,299. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.36. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a 50 day moving average price of $106.96 and a two-hundred day moving average price of $110.89. The stock has a market capitalization of $21.35 billion, a PE ratio of 20.39, a PEG ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $1.65 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 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.