Primecap Management Co. CA Reduces Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Primecap Management Co. CA decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,971,380 shares of the medical equipment provider’s stock after selling 83,210 shares during the period. Primecap Management Co. CA owned about 2.50% of Zimmer Biomet worth $536,660,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in Zimmer Biomet in the 3rd quarter valued at about $28,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet in the first quarter worth approximately $31,000. Bangor Savings Bank purchased a new position in Zimmer Biomet during the third quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet during the second quarter valued at approximately $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Zimmer Biomet in the second quarter worth approximately $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Trading Down 1.5 %

Shares of Zimmer Biomet stock opened at $109.31 on Thursday. The stock has a market capitalization of $21.76 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.04 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 simple moving average of $106.65 and a 200 day simple moving average of $109.86. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 EPS. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.88%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s payout ratio is presently 18.25%.

Wall Street Analyst Weigh In

Several analysts have commented on ZBH shares. UBS Group decreased their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. 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. JPMorgan Chase & Co. decreased their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, Robert W. Baird decreased 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 analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.22.

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.