Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Envestnet Asset Management Inc.

Posted by MarketBeat News on Aug 5th, 2022

Envestnet Asset Management Inc. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 32.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,610 shares of the medical equipment provider’s stock after buying an additional 29,263 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Zimmer Biomet worth $15,170,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ZBH. Norges Bank acquired a new stake in Zimmer Biomet during the 4th quarter valued at $256,611,000. Capital International Investors boosted its holdings in shares of Zimmer Biomet by 41.4% during the fourth quarter. Capital International Investors now owns 5,530,514 shares of the medical equipment provider’s stock worth $702,596,000 after purchasing an additional 1,618,582 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Zimmer Biomet by 30.7% during the fourth quarter. American Century Companies Inc. now owns 5,565,287 shares of the medical equipment provider’s stock worth $707,014,000 after purchasing an additional 1,305,683 shares during the last quarter. Nuance Investments LLC boosted its holdings in shares of Zimmer Biomet by 55.5% during the fourth quarter. Nuance Investments LLC now owns 2,014,412 shares of the medical equipment provider’s stock worth $255,911,000 after purchasing an additional 718,774 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Zimmer Biomet by 26.1% during the fourth quarter. Boston Partners now owns 3,069,389 shares of the medical equipment provider’s stock worth $389,949,000 after purchasing an additional 634,960 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Zimmer Biomet Trading Down 2.0 %

NYSE:ZBH opened at $113.35 on Friday. The business’s 50-day moving average is $109.49 and its two-hundred day moving average is $117.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.81 and a quick ratio of 0.89. Zimmer Biomet Holdings, Inc. has a 12 month low of $100.39 and a 12 month high of $153.76. The firm has a market capitalization of $23.76 billion, a PE ratio of 103.99, a price-to-earnings-growth ratio of 2.60 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH – Get Rating) last announced its earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.17. Zimmer Biomet had a return on equity of 12.20% and a net margin of 3.10%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 6.75 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Monday, June 27th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, June 24th. Zimmer Biomet’s payout ratio is 88.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZBH shares. Truist Financial decreased their price objective on Zimmer Biomet to $115.00 in a report on Friday, July 22nd. Stifel Nicolaus decreased their price objective on Zimmer Biomet from $140.00 to $120.00 in a report on Monday, July 18th. Citigroup raised their price objective on Zimmer Biomet from $114.00 to $119.00 in a report on Wednesday. Needham & Company LLC cut Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Finally, Piper Sandler reduced their target price on Zimmer Biomet from $130.00 to $120.00 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $133.50.

Insider Transactions at Zimmer Biomet

In other news, insider Zuilen Wilfred Van sold 531 shares of Zimmer Biomet stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $105.22, for a total transaction of $55,871.82. Following the sale, the insider now directly owns 2,240 shares of the company’s stock, valued at $235,692.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Zimmer Biomet Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.