Mesirow Financial Investment Management Inc. Acquires 2,563 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mesirow Financial Investment Management Inc. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 95.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,254 shares of the medical equipment provider’s stock after purchasing an additional 2,563 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Zimmer Biomet were worth $567,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc grew its holdings in shares of Zimmer Biomet by 60.2% during the 3rd quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock worth $586,000 after acquiring an additional 2,041 shares during the period. Rovin Capital UT ADV grew its stake in Zimmer Biomet by 19.1% in the third quarter. Rovin Capital UT ADV now owns 6,426 shares of the medical equipment provider’s stock worth $694,000 after purchasing an additional 1,029 shares during the period. Philip James Wealth Mangement LLC bought a new position in Zimmer Biomet in the third quarter worth $305,000. Sittner & Nelson LLC lifted its position in Zimmer Biomet by 62.4% during the third quarter. Sittner & Nelson LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $225,000 after buying an additional 801 shares during the period. Finally, Olstein Capital Management L.P. boosted its holdings in shares of Zimmer Biomet by 3.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 80,000 shares of the medical equipment provider’s stock valued at $8,636,000 after buying an additional 2,600 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZBH. Wells Fargo & Company boosted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. UBS Group cut their price target 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. JPMorgan Chase & Co. lowered their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, BTIG Research reduced their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $109.53 on Tuesday. The firm has a market cap of $21.80 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 1.99 and a beta of 1.02. The firm has a fifty day moving average price of $106.37 and a 200 day moving average price of $110.33. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

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

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 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.