Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,757 shares of the medical equipment provider’s stock after acquiring an additional 400 shares during the period. HB Wealth Management LLC’s holdings in Zimmer Biomet were worth $496,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ZBH. Norges Bank purchased a new position in Zimmer Biomet in the fourth quarter worth approximately $266,896,000. American Century Companies Inc. lifted its stake in Zimmer Biomet by 21.2% in the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after acquiring an additional 852,186 shares during the last quarter. Van ECK Associates Corp lifted its stake in Zimmer Biomet by 23.7% in the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after acquiring an additional 543,344 shares during the last quarter. Primecap Management Co. CA lifted its stake in Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after acquiring an additional 484,151 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Zimmer Biomet by 16.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock worth $335,895,000 after acquiring an additional 386,019 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

ZBH traded up $0.52 during trading on Friday, hitting $107.10. The stock had a trading volume of 342,633 shares, compared to its average volume of 1,496,704. The firm has a market capitalization of $22.03 billion, a P/E ratio of 23.07, a PEG ratio of 1.92 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $144.13. The company’s 50-day moving average price is $114.14 and its 200 day moving average price is $120.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Zimmer Biomet’s payout ratio is currently 20.78%.

Analysts Set New Price Targets

A number of research firms have weighed in on ZBH. Barclays cut their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Oppenheimer raised their price objective on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Citigroup raised their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective on the stock. Finally, Truist Financial cut their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $131.76.

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.