Oppenheimer & Co. Inc. Buys 1,977 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Oppenheimer & Co. Inc. increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,995 shares of the medical equipment provider’s stock after purchasing an additional 1,977 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Zimmer Biomet were worth $2,698,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of Zimmer Biomet by 50.6% during the 1st quarter. Empowered Funds LLC now owns 3,757 shares of the medical equipment provider’s stock worth $496,000 after buying an additional 1,262 shares during the period. Bleakley Financial Group LLC lifted its stake in Zimmer Biomet by 6.2% in the first quarter. Bleakley Financial Group LLC now owns 2,271 shares of the medical equipment provider’s stock valued at $300,000 after acquiring an additional 132 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Zimmer Biomet by 22.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,225 shares of the medical equipment provider’s stock valued at $426,000 after purchasing an additional 590 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Zimmer Biomet by 3.7% during the 1st quarter. Blair William & Co. IL now owns 33,364 shares of the medical equipment provider’s stock worth $4,403,000 after acquiring an additional 1,184 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of Zimmer Biomet in the first quarter valued at $7,397,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 3.4 %

NYSE ZBH opened at $112.54 on Friday. The stock has a 50-day moving average of $106.28 and a 200-day moving average of $110.11. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The firm has a market cap of $22.40 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02.

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

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s payout ratio is 18.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wolfe Research began coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating for the company. Oppenheimer cut their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their price objective 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. Royal Bank of Canada increased their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Truist Financial increased their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $123.22.

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.