2,187 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Bought by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) in the third quarter, Holdings Channel.com reports. The firm acquired 2,187 shares of the medical equipment provider’s stock, valued at approximately $272,000.

A number of other institutional investors have also modified their holdings of the stock. Crossmark Global Holdings Inc. raised its stake in shares of Zimmer Biomet by 0.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 14,006 shares of the medical equipment provider’s stock valued at $1,464,000 after buying an additional 91 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Zimmer Biomet by 21.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 563 shares of the medical equipment provider’s stock valued at $59,000 after buying an additional 99 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Zimmer Biomet by 5.8% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,860 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 102 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Zimmer Biomet by 2.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 3,795 shares of the medical equipment provider’s stock valued at $397,000 after buying an additional 106 shares during the last quarter. Finally, Money Concepts Capital Corp raised its stake in shares of Zimmer Biomet by 5.9% during the 3rd quarter. Money Concepts Capital Corp now owns 1,901 shares of the medical equipment provider’s stock valued at $199,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZBH. Royal Bank of Canada upgraded Zimmer Biomet from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $125.00 to $141.00 in a research note on Monday, January 9th. Morgan Stanley lifted their price target on Zimmer Biomet from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, February 6th. Truist Financial lifted their price target on Zimmer Biomet from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Monday, February 6th. Wells Fargo & Company upgraded Zimmer Biomet from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $116.00 to $124.00 in a research note on Wednesday, November 23rd. Finally, Oppenheimer lifted their price target on Zimmer Biomet from $120.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, February 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $133.56.

Zimmer Biomet Trading Down 0.9 %

Shares of Zimmer Biomet stock opened at $124.31 on Friday. The stock has a market cap of $26.11 billion, a P/E ratio of 113.01, a P/E/G ratio of 2.87 and a beta of 1.00. The stock’s 50 day simple moving average is $125.21 and its 200-day simple moving average is $118.62. Zimmer Biomet Holdings, Inc. has a 1-year low of $100.39 and a 1-year high of $135.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 0.97.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.05. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 EPS. Analysts predict that Zimmer Biomet Holdings, Inc. will post 7.04 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, March 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, March 28th. Zimmer Biomet’s dividend payout ratio is currently 87.27%.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.