Brandywine Global Investment Management LLC Purchases New Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Brandywine Global Investment Management LLC acquired 120,555 shares of Zimmer Biomet Holdings, valued at approximately $13.6 million, indicating growing institutional interest in the company.
• Zimmer Biomet reported earnings per share (EPS) of $2.07 for the last quarter, exceeding analysts' expectations of $1.98, alongside a revenue of $2.08 billion.
• The company also announced a quarterly dividend of $0.24 per share, translating to an annualized yield of 0.9%, with a dividend payout ratio of 23.36%.

Brandywine Global Investment Management LLC purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 120,555 shares of the medical equipment provider's stock, valued at approximately $13,644,000. Brandywine Global Investment Management LLC owned 0.06% of Zimmer Biomet as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new stake in Zimmer Biomet in the 1st quarter valued at $29,000. Menard Financial Group LLC acquired a new stake in Zimmer Biomet during the 4th quarter worth $30,000. Washington Trust Advisors Inc. acquired a new stake in Zimmer Biomet during the 1st quarter worth $30,000. Columbia River Financial Group LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth $30,000. Finally, Accent Capital Management LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth $35,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Trading Up 0.6%

NYSE ZBH opened at $102.77 on Friday. The firm's 50-day moving average is $94.36 and its two-hundred day moving average is $99.48. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The stock has a market capitalization of $20.36 billion, a P/E ratio of 25.00, a PEG ratio of 2.01 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 earnings per share. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. Zimmer Biomet's dividend payout ratio is 23.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ZBH shares. Wells Fargo & Company lowered their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird lowered their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group lowered their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada lifted their price target on Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, JMP Securities reduced their price target on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and a consensus target price of $111.44.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by company insiders.

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.

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