Equity Investment Corp Purchases 371,653 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Equity Investment Corp raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 57.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,021,062 shares of the medical equipment provider’s stock after purchasing an additional 371,653 shares during the period. Zimmer Biomet accounts for about 2.5% of Equity Investment Corp’s holdings, making the stock its 16th biggest position. Equity Investment Corp owned 0.51% of Zimmer Biomet worth $107,855,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Illinois Municipal Retirement Fund raised its holdings in Zimmer Biomet by 29.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 93,460 shares of the medical equipment provider’s stock valued at $9,872,000 after acquiring an additional 21,046 shares during the period. Brown Financial Advisors grew its position in shares of Zimmer Biomet by 3.4% in the fourth quarter. Brown Financial Advisors now owns 9,887 shares of the medical equipment provider’s stock valued at $1,044,000 after purchasing an additional 321 shares in the last quarter. Skylands Capital LLC raised its stake in shares of Zimmer Biomet by 87.5% during the 4th quarter. Skylands Capital LLC now owns 6,986 shares of the medical equipment provider’s stock valued at $738,000 after purchasing an additional 3,261 shares during the period. New World Advisors LLC lifted its holdings in Zimmer Biomet by 7.3% during the 4th quarter. New World Advisors LLC now owns 3,813 shares of the medical equipment provider’s stock worth $403,000 after purchasing an additional 260 shares in the last quarter. Finally, South Dakota Investment Council lifted its holdings in shares of Zimmer Biomet by 266.6% in the fourth quarter. South Dakota Investment Council now owns 80,886 shares of the medical equipment provider’s stock worth $8,544,000 after buying an additional 58,820 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ZBH shares. Stifel Nicolaus upped their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Barclays dropped their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Price Performance

ZBH opened at $104.89 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90. The stock’s 50 day simple moving average is $105.81 and its 200 day simple moving average is $107.42. The firm has a market cap of $20.88 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the prior year, the business earned $2.20 EPS. As a group, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Zimmer Biomet’s payout ratio is presently 21.57%.

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.