Channing Capital Management LLC Acquires New Holdings in Zimmer Biomet Holdings Inc (ZBH)

Channing Capital Management LLC acquired a new stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 82,148 shares of the medical equipment provider’s stock, valued at approximately $9,619,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZBH. Bronfman E.L. Rothschild L.P. grew its holdings in Zimmer Biomet Holdings by 25.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 167 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Zimmer Biomet Holdings by 3.9% in the second quarter. Parkside Financial Bank & Trust now owns 872 shares of the medical equipment provider’s stock valued at $112,000 after buying an additional 33 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Zimmer Biomet Holdings by 20.8% in the first quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 199 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Zimmer Biomet Holdings by 28.4% in the first quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock valued at $139,000 after buying an additional 256 shares during the period. Finally, BB&T Investment Services Inc. acquired a new position in shares of Zimmer Biomet Holdings in the second quarter valued at approximately $144,000. Hedge funds and other institutional investors own 85.26% of the company’s stock.

Zimmer Biomet Holdings Inc (NYSE:ZBH) traded down $5.84 during mid-day trading on Friday, hitting $109.25. 3,876,137 shares of the company traded hands, compared to its average volume of 1,446,411. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.47 and a quick ratio of 0.80. Zimmer Biomet Holdings Inc has a fifty-two week low of $95.63 and a fifty-two week high of $133.49. The firm has a market capitalization of $22.09 billion, a P/E ratio of 13.92, a PEG ratio of 1.53 and a beta of 1.17.

Zimmer Biomet Holdings (NYSE:ZBH) last posted its earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 EPS for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.02). Zimmer Biomet Holdings had a return on equity of 16.29% and a net margin of 8.36%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $1.79 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. equities research analysts anticipate that Zimmer Biomet Holdings Inc will post 8.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 22nd were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio (DPR) is currently 29.91%.

ZBH has been the subject of several research analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $136.00 price target on shares of Zimmer Biomet Holdings in a report on Tuesday, July 11th. Wells Fargo & Company reiterated a “market weight” rating on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Morgan Stanley upped their price target on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Stifel Nicolaus restated a “hold” rating and set a $125.00 target price on shares of Zimmer Biomet Holdings in a report on Friday, July 14th. Finally, Zacks Investment Research cut shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $134.75.

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About Zimmer Biomet Holdings

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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

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