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Nuveen LLC Takes $155.89 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Zimmer Biomet logo with Medical background

Key Points

  • Nuveen LLC has acquired a new stake of approximately 1,377,374 shares in Zimmer Biomet Holdings, valued at about $155.89 million, representing 0.70% ownership.
  • Zimmer Biomet's recent earnings report surpassed analysts' expectations, with $2.07 EPS reported, exceeding the consensus estimate of $1.98.
  • Research analysts have mixed opinions on Zimmer Biomet, with two sell ratings, nine hold ratings, and nine buy ratings, leading to a consensus target price of $111.44.
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Nuveen LLC bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,377,374 shares of the medical equipment provider's stock, valued at approximately $155,891,000. Nuveen LLC owned about 0.70% of Zimmer Biomet at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MGO One Seven LLC raised its stake in shares of Zimmer Biomet by 5.1% during the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock worth $238,000 after purchasing an additional 110 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Zimmer Biomet by 0.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock worth $2,903,000 after purchasing an additional 118 shares during the period. Curbstone Financial Management Corp raised its stake in Zimmer Biomet by 3.4% in the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock valued at $483,000 after acquiring an additional 140 shares during the period. Roberts Wealth Advisors LLC raised its stake in Zimmer Biomet by 0.8% in the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock valued at $2,093,000 after acquiring an additional 152 shares during the period. Finally, Wesbanco Bank Inc. raised its stake in Zimmer Biomet by 0.8% in the 1st quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider's stock valued at $2,265,000 after acquiring an additional 163 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ZBH shares. JMP Securities lowered their price objective on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird lowered their price objective 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. Wells Fargo & Company lowered their price objective on 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. Royal Bank Of Canada boosted their price objective on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and a consensus price target of $111.44.

Get Our Latest Research Report on ZBH

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded up $1.21 during midday trading on Wednesday, hitting $103.03. 1,254,277 shares of the company's stock were exchanged, compared to its average volume of 1,865,590. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The company has a market cap of $20.41 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 2.32 and a beta of 0.68. The business's fifty day moving average price is $93.94 and its two-hundred day moving average price is $99.61.

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

Zimmer Biomet Announces Dividend

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

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is currently owned by corporate insiders.

Zimmer Biomet Profile

(Free Report)

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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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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