Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,411 shares of the medical equipment provider’s stock after buying an additional 489 shares during the quarter. Wesbanco Bank Inc.’s holdings in Zimmer Biomet were worth $2,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet in the first quarter worth approximately $31,000. Bangor Savings Bank acquired a new position in Zimmer Biomet during the third quarter worth approximately $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet during the second quarter worth approximately $33,000. J.Safra Asset Management Corp boosted its holdings in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 0.2 %

Shares of Zimmer Biomet stock opened at $104.60 on Wednesday. The business has a 50-day moving average price of $108.23 and a 200 day moving average price of $112.69. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The firm has a market cap of $21.30 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.93 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $1.82 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.98 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Zimmer Biomet’s payout ratio is currently 20.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup cut their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada decreased their target price on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Finally, UBS Group reduced their target price 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. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.74.

Zimmer Biomet 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.