Border to Coast Pensions Partnership Ltd Has $31.20 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Border to Coast Pensions Partnership Ltd increased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 90.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,605 shares of the medical equipment provider’s stock after purchasing an additional 140,351 shares during the quarter. Border to Coast Pensions Partnership Ltd owned approximately 0.15% of Zimmer Biomet worth $31,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC increased its stake in Zimmer Biomet by 60.9% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 4,649 shares of the medical equipment provider’s stock valued at $491,000 after acquiring an additional 1,759 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Zimmer Biomet by 184.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 6,133 shares of the medical equipment provider’s stock valued at $648,000 after purchasing an additional 3,980 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Zimmer Biomet by 1.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 28,490 shares of the medical equipment provider’s stock worth $3,009,000 after buying an additional 345 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $200,000. Finally, Peddock Capital Advisors LLC bought a new stake in Zimmer Biomet in the fourth quarter valued at $654,000. Institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

ZBH has been the topic of several recent analyst reports. Evercore ISI reduced their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company upped their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Oppenheimer reduced their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price target for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Finally, BTIG Research reduced their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $123.33.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $108.86 on Friday. The stock has a 50-day moving average of $107.81 and a 200-day moving average of $107.96. Zimmer Biomet Holdings, Inc. has a one year low of $100.67 and a one year high of $133.90. The stock has a market cap of $21.67 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. Zimmer Biomet’s payout ratio is 18.25%.

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.