Deroy & Devereaux Private Investment Counsel Inc. Grows Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 210,312 shares of the medical equipment provider’s stock after purchasing an additional 1,453 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. owned approximately 0.10% of Zimmer Biomet worth $22,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. BLB&B Advisors LLC raised its holdings in shares of Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 100 shares during the last quarter. Financial Advocates Investment Management raised its holdings in shares of Zimmer Biomet by 3.5% during the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after purchasing an additional 103 shares during the last quarter. PFG Advisors grew its position in 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 buying an additional 105 shares during the period. M&R Capital Management Inc. grew its position in Zimmer Biomet by 14.1% during the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after buying an additional 105 shares during the period. Finally, Mill Creek Capital Advisors LLC grew its position in Zimmer Biomet by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 106 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Raymond James cut their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. TD Cowen cut their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Morgan Stanley cut their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.58.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $106.92 on Friday. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.02 and a beta of 1.02. The firm’s fifty day moving average is $107.11 and its 200 day moving average is $111.00. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

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.