Wealthspire Advisors LLC Raises Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wealthspire Advisors LLC grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,064 shares of the medical equipment provider’s stock after purchasing an additional 488 shares during the period. Wealthspire Advisors LLC’s holdings in Zimmer Biomet were worth $981,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ZBH. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 21.2% during the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after purchasing an additional 852,186 shares during the period. Victory Capital Management Inc. increased its holdings in Zimmer Biomet by 3.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock valued at $389,355,000 after buying an additional 118,839 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Zimmer Biomet by 23.7% in the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after acquiring an additional 543,344 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Zimmer Biomet by 16.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock worth $335,895,000 after acquiring an additional 386,019 shares in the last quarter. Finally, Boston Partners grew its position in shares of Zimmer Biomet by 29.2% during the 3rd quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock valued at $302,366,000 after acquiring an additional 608,959 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ZBH. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 9th. Oppenheimer lifted their price target on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Truist Financial reduced their price objective on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $135.40.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH traded up $0.16 during trading hours on Friday, reaching $121.60. 15,778 shares of the company traded hands, compared to its average volume of 1,451,470. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $147.50. The stock has a market cap of $25.02 billion, a P/E ratio of 26.29, a P/E/G ratio of 2.18 and a beta of 1.03. The firm’s 50-day moving average is $125.01 and its 200-day moving average is $120.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.09 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s payout ratio is currently 20.78%.

Zimmer Biomet 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.