Koss Olinger Consulting LLC Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Koss Olinger Consulting LLC bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 18,007 shares of the medical equipment provider’s stock, valued at approximately $1,954,000.

A number of other large investors have also recently modified their holdings of the stock. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet in the fourth quarter worth about $26,000. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $31,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $30,000. J.Safra Asset Management Corp boosted its position in shares of Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in Zimmer Biomet in the second quarter worth $33,000. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ZBH shares. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective for the company. Raymond James lowered their price target on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. UBS Group cut their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Oppenheimer lowered their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada cut their price target on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $126.00.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $104.81 on Friday. The firm’s 50-day moving average price is $110.04 and its 200-day moving average price is $116.88. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a market cap of $21.56 billion, a PE ratio of 22.69, a PEG ratio of 2.04 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is 20.78%.

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.