Sivik Global Healthcare LLC Makes New $4.32 Million Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sivik Global Healthcare LLC acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the third quarter, Holdings Channel.com reports. The firm acquired 40,000 shares of the medical equipment provider’s stock, valued at approximately $4,318,000. Zimmer Biomet makes up approximately 1.8% of Sivik Global Healthcare LLC’s portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BLB&B Advisors LLC increased its stake in shares of Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock worth $529,000 after purchasing an additional 100 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Zimmer Biomet by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after purchasing an additional 103 shares during the last quarter. M&R Capital Management Inc. grew its stake in Zimmer Biomet by 14.1% during the 3rd quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after acquiring an additional 105 shares in the last quarter. Mill Creek Capital Advisors LLC increased its holdings in shares of Zimmer Biomet by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 106 shares during the last quarter. Finally, HB Wealth Management LLC grew its holdings in Zimmer Biomet by 2.8% in the 2nd quarter. HB Wealth Management LLC now owns 3,864 shares of the medical equipment provider’s stock valued at $419,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH traded down $0.46 during trading hours on Thursday, reaching $109.51. 21,240 shares of the company traded hands, compared to its average volume of 1,481,896. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The stock has a market cap of $21.80 billion, a P/E ratio of 20.91, a P/E/G ratio of 2.02 and a beta of 1.02. The firm’s 50-day moving average is $106.04 and its 200-day moving average is $110.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. Equities 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 firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.88%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Analyst Upgrades and Downgrades

ZBH has been the topic of several recent analyst reports. TD Cowen decreased their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Robert W. Baird dropped their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. BTIG Research lowered their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Truist Financial upped their price target on Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Oppenheimer cut their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.