Massmutual Trust Co. FSB ADV Raises Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Massmutual Trust Co. FSB ADV boosted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,455 shares of the medical equipment provider’s stock after acquiring an additional 282 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Zimmer Biomet were worth $468,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ZBH. Rafferty Asset Management LLC lifted its position in Zimmer Biomet by 5.4% during the 4th quarter. Rafferty Asset Management LLC now owns 7,021 shares of the medical equipment provider’s stock valued at $892,000 after acquiring an additional 362 shares during the period. MAI Capital Management lifted its position in Zimmer Biomet by 3.7% during the 4th quarter. MAI Capital Management now owns 4,172 shares of the medical equipment provider’s stock valued at $530,000 after acquiring an additional 148 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Zimmer Biomet by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,872 shares of the medical equipment provider’s stock valued at $125,881,000 after acquiring an additional 36,301 shares during the period. Renaissance Technologies LLC lifted its position in Zimmer Biomet by 30.9% during the 4th quarter. Renaissance Technologies LLC now owns 245,000 shares of the medical equipment provider’s stock valued at $31,125,000 after acquiring an additional 57,774 shares during the period. Finally, Geode Capital Management LLC lifted its position in Zimmer Biomet by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,744,305 shares of the medical equipment provider’s stock valued at $474,452,000 after acquiring an additional 35,742 shares during the period. 89.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Needham & Company LLC cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Piper Sandler decreased their target price on shares of Zimmer Biomet from $130.00 to $120.00 in a report on Tuesday, August 2nd. Morgan Stanley lifted their target price on shares of Zimmer Biomet from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. Citigroup lifted their target price on shares of Zimmer Biomet from $114.00 to $119.00 in a report on Wednesday, August 3rd. Finally, Truist Financial decreased their target price on shares of Zimmer Biomet to $115.00 in a report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $133.50.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Zuilen Wilfred Van sold 531 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $105.22, for a total value of $55,871.82. Following the completion of the transaction, the insider now directly owns 2,240 shares in the company, valued at $235,692.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $112.69 on Monday. The firm has a 50 day moving average of $110.38 and a 200 day moving average of $115.65. The company has a current ratio of 1.81, a quick ratio of 0.95 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 103.39, a price-to-earnings-growth ratio of 3.34 and a beta of 1.14. Zimmer Biomet Holdings, Inc. has a 12-month low of $100.39 and a 12-month high of $153.76.

Zimmer Biomet (NYSE:ZBHGet Rating) last announced its earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.19. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.72 billion. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 earnings per share. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.8 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 annualized dividend and a yield of 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is 88.07%.

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.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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