Causeway Capital Management LLC Buys Shares of 241,863 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Causeway Capital Management LLC bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 241,863 shares of the medical equipment provider’s stock, valued at approximately $30,726,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pura Vida Investments LLC raised its position in shares of Zimmer Biomet by 30.0% in the 3rd quarter. Pura Vida Investments LLC now owns 65,000 shares of the medical equipment provider’s stock valued at $9,513,000 after purchasing an additional 15,000 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $34,000. CIBC Private Wealth Group LLC raised its position in shares of Zimmer Biomet by 2.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 22,626 shares of the medical equipment provider’s stock valued at $2,874,000 after purchasing an additional 613 shares in the last quarter. American Century Companies Inc. raised its position in shares of Zimmer Biomet by 15.1% in the 3rd quarter. American Century Companies Inc. now owns 4,259,604 shares of the medical equipment provider’s stock valued at $623,436,000 after purchasing an additional 557,891 shares in the last quarter. Finally, Independence Bank of Kentucky raised its position in shares of Zimmer Biomet by 15.4% in the 4th quarter. Independence Bank of Kentucky now owns 16,595 shares of the medical equipment provider’s stock valued at $2,108,000 after purchasing an additional 2,215 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the company. Stifel Nicolaus upped their price target on Zimmer Biomet from $130.00 to $140.00 in a research report on Tuesday, May 3rd. Loop Capital lowered Zimmer Biomet from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a research report on Wednesday, March 2nd. Bank of America assumed coverage on Zimmer Biomet in a research report on Tuesday, March 1st. They set an “underperform” rating and a $120.00 price target on the stock. Piper Sandler dropped their price target on Zimmer Biomet from $135.00 to $110.00 in a research report on Monday, February 7th. Finally, Wells Fargo & Company dropped their price target on Zimmer Biomet from $124.00 to $111.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.65.

Shares of Zimmer Biomet stock traded up $4.24 during trading on Tuesday, hitting $119.36. The stock had a trading volume of 40,064 shares, compared to its average volume of 1,533,378. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 0.89. The firm has a market cap of $25.02 billion, a P/E ratio of 115.72, a PEG ratio of 2.78 and a beta of 1.16. The business has a fifty day moving average of $123.39 and a two-hundred day moving average of $124.99. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $108.47 and a fifty-two week high of $169.98.

Zimmer Biomet (NYSE:ZBHGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.21. Zimmer Biomet had a return on equity of 12.23% and a net margin of 2.85%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.72 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Monday, June 27th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio is 93.20%.

In other news, VP Chad F. Phipps sold 35,149 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $121.97, for a total transaction of $4,287,123.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

Zimmer Biomet Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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