First Bancorp Inc ME Increases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

First Bancorp Inc ME grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 110.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,145 shares of the medical equipment provider’s stock after purchasing an additional 2,175 shares during the quarter. First Bancorp Inc ME’s holdings in Zimmer Biomet were worth $442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC increased its position in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet during the 3rd quarter valued at $28,000. Bangor Savings Bank bought a new stake in shares of Zimmer Biomet in the 3rd quarter worth $31,000. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet in the third quarter worth $35,000. Finally, Quarry LP purchased a new stake in shares of Zimmer Biomet during the second quarter valued at $53,000. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZBH shares. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Evercore ISI dropped their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Royal Bank of Canada boosted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Oppenheimer cut their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Finally, Barclays lowered their target price on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $124.11.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $110.78 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a twelve month low of $100.67 and a twelve month high of $133.90. The business has a 50-day moving average price of $107.86 and a 200-day moving average price of $108.12. The firm has a market cap of $22.05 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate of $1.74. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 EPS. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, December 30th. Zimmer Biomet’s payout ratio is currently 18.25%.

About Zimmer Biomet

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.