Kempner Capital Management Inc. Takes $2.83 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kempner Capital Management Inc. purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 26,251 shares of the medical equipment provider’s stock, valued at approximately $2,834,000.

A number of other hedge funds have also added to or reduced their stakes in ZBH. North Star Investment Management Corp. boosted its stake in shares of Zimmer Biomet by 16.6% during the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 95 shares in the last quarter. Romano Brothers AND Company grew its holdings in shares of Zimmer Biomet by 1.1% during the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock worth $1,256,000 after acquiring an additional 100 shares during the period. First Bancorp Inc ME raised its position in shares of Zimmer Biomet by 5.3% in the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after acquiring an additional 100 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Zimmer Biomet by 2.6% in the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 100 shares during the period. Finally, PFG Advisors boosted its position in shares of Zimmer Biomet by 5.5% during the first quarter. PFG Advisors now owns 2,004 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 105 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded down $1.15 on Tuesday, hitting $104.05. 279,550 shares of the company traded hands, compared to its average volume of 1,476,304. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The business has a 50-day simple moving average of $108.07 and a 200 day simple moving average of $112.03. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The stock has a market capitalization of $21.41 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on ZBH. JPMorgan Chase & Co. decreased their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Raymond James decreased their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Oppenheimer dropped their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Wolfe Research assumed coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. Finally, TD Cowen dropped their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $123.94.

Zimmer Biomet Company Profile

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.