Veritable L.P. increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 27.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,478 shares of the medical equipment provider’s stock after purchasing an additional 2,268 shares during the quarter. Veritable L.P.’s holdings in Zimmer Biomet were worth $1,526,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the business. Spire Wealth Management grew its stake in shares of Zimmer Biomet by 17.2% in the second quarter. Spire Wealth Management now owns 1,323 shares of the medical equipment provider’s stock valued at $193,000 after buying an additional 194 shares in the last quarter. BNP Paribas Arbitrage SNC raised its stake in shares of Zimmer Biomet by 24.5% during the second quarter. BNP Paribas Arbitrage SNC now owns 198,540 shares of the medical equipment provider’s stock valued at $28,907,000 after purchasing an additional 39,045 shares during the period. TD Asset Management Inc lifted its position in shares of Zimmer Biomet by 26.5% during the second quarter. TD Asset Management Inc now owns 158,145 shares of the medical equipment provider’s stock worth $23,026,000 after purchasing an additional 33,091 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Zimmer Biomet by 29.7% in the second quarter. Canada Pension Plan Investment Board now owns 326,550 shares of the medical equipment provider’s stock valued at $47,546,000 after purchasing an additional 74,700 shares during the period. Finally, Banque Cantonale Vaudoise lifted its holdings in Zimmer Biomet by 103.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 12,404 shares of the medical equipment provider’s stock worth $1,806,000 after buying an additional 6,300 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.
Wall Street Analysts Forecast Growth
ZBH has been the topic of a number of analyst reports. Truist Financial dropped their target price on Zimmer Biomet from $153.00 to $148.00 and set a “hold” rating on the stock in a research report on Wednesday, August 2nd. JMP Securities dropped their price target on shares of Zimmer Biomet from $160.00 to $140.00 and set a “market outperform” rating for the company in a research note on Monday. Raymond James reduced their price objective on shares of Zimmer Biomet from $160.00 to $133.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. BTIG Research upgraded shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $139.00 target price on the stock in a research note on Monday, August 28th. Finally, Barclays lifted their price target on Zimmer Biomet from $116.00 to $120.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $139.10.
Zimmer Biomet Price Performance
Shares of NYSE ZBH opened at $111.55 on Friday. The firm’s 50-day simple moving average is $110.47 and its 200 day simple moving average is $125.32. The stock has a market cap of $23.31 billion, a P/E ratio of 49.36, a P/E/G ratio of 2.21 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.41. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $149.25.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last released its quarterly earnings results on Tuesday, November 7th. The medical equipment provider reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.06. Zimmer Biomet had a net margin of 6.52% and a return on equity of 12.41%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm earned $1.58 EPS. Zimmer Biomet’s revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.51 EPS for the current year.
Zimmer Biomet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Zimmer Biomet’s dividend payout ratio (DPR) is 42.48%.
Insider Activity at Zimmer Biomet
In other Zimmer Biomet news, Director Michael W. Michelson purchased 1,300 shares of the business’s stock in a transaction on Friday, August 25th. The stock was bought at an average cost of $115.50 per share, with a total value of $150,150.00. Following the acquisition, the director now owns 3,385 shares of the company’s stock, valued at $390,967.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert Hagemann bought 2,000 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were bought at an average cost of $116.48 per share, with a total value of $232,960.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $465,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael W. Michelson purchased 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $115.50 per share, with a total value of $150,150.00. Following the transaction, the director now directly owns 3,385 shares in the company, valued at $390,967.50. The disclosure for this purchase can be found here. Insiders bought 5,300 shares of company stock valued at $619,090 over the last 90 days. 0.95% of the stock is currently owned by corporate insiders.
Zimmer Biomet Company Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company 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. 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.
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