Equity Investment Corp Grows Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Equity Investment Corp lifted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,038,348 shares of the medical equipment provider's stock after purchasing an additional 17,286 shares during the quarter. Zimmer Biomet comprises 2.6% of Equity Investment Corp's portfolio, making the stock its 15th biggest holding. Equity Investment Corp owned about 0.52% of Zimmer Biomet worth $117,520,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of Zimmer Biomet by 398.7% during the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after acquiring an additional 2,796,372 shares during the last quarter. Norges Bank bought a new stake in Zimmer Biomet during the 4th quarter valued at $216,223,000. Dodge & Cox raised its position in Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares in the last quarter. Nuveen Asset Management LLC raised its position in Zimmer Biomet by 191.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after purchasing an additional 913,310 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new stake in Zimmer Biomet during the 4th quarter valued at $81,447,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Shares of ZBH stock traded down $0.98 during trading hours on Friday, reaching $93.92. The company had a trading volume of 430,239 shares, compared to its average volume of 1,827,419. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The stock has a fifty day moving average of $93.30 and a 200-day moving average of $101.01. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.18 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 earnings per share. On average, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's payout ratio is currently 21.24%.

Insider Activity

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.39% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI decreased their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research report on Tuesday, July 8th. Morgan Stanley dropped their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird dropped their target price on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $111.39.

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.