Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,950 shares of the medical equipment provider’s stock after acquiring an additional 2,472 shares during the quarter. CIBC Asset Management Inc’s holdings in Zimmer Biomet were worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ZBH. CKW Financial Group boosted its position in shares of Zimmer Biomet by 3,000.0% in the second quarter. CKW Financial Group now owns 310 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 300 shares during the period. Ronald Blue Trust Inc. acquired a new stake in Zimmer Biomet during the 2nd quarter worth about $37,000. Western Pacific Wealth Management LP purchased a new position in Zimmer Biomet during the 3rd quarter valued at about $44,000. Tsfg LLC increased its holdings in shares of Zimmer Biomet by 295.5% in the 3rd quarter. Tsfg LLC now owns 435 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 325 shares during the period. Finally, Clear Street Markets LLC increased its holdings in shares of Zimmer Biomet by 409.3% in the 2nd quarter. Clear Street Markets LLC now owns 438 shares of the medical equipment provider’s stock valued at $46,000 after purchasing an additional 352 shares during the period. Institutional investors own 87.21% of the company’s stock.

Zimmer Biomet Stock Down 0.4 %

Zimmer Biomet stock opened at $125.48 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.98 and a quick ratio of 1.05. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.39 and a fifty-two week high of $135.05. The firm has a fifty day moving average price of $123.44 and a two-hundred day moving average price of $114.62. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 95.06, a P/E/G ratio of 2.37 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.02. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Zimmer Biomet had a return on equity of 11.92% and a net margin of 3.89%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.84 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, December 27th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, December 23rd. Zimmer Biomet’s dividend payout ratio (DPR) is currently 72.73%.

Analysts Set New Price Targets

A number of brokerages recently commented on ZBH. Wells Fargo & Company raised shares of Zimmer Biomet from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $116.00 to $124.00 in a research report on Wednesday, November 23rd. Piper Sandler boosted their price target on shares of Zimmer Biomet from $120.00 to $130.00 in a report on Thursday, January 5th. Barclays assumed coverage on Zimmer Biomet in a report on Monday, October 17th. They set an “underweight” rating and a $104.00 price objective for the company. Royal Bank of Canada upgraded Zimmer Biomet from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $125.00 to $141.00 in a research note on Monday, January 9th. Finally, Raymond James raised Zimmer Biomet from a “market perform” rating to an “outperform” rating and set a $144.00 price target for the company in a research note on Thursday, January 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $128.86.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.