Tocqueville Asset Management L.P. Acquires 196 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Tocqueville Asset Management L.P. lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.4% in the first quarter, Holdings Channel.com reports. The fund owned 14,007 shares of the medical equipment provider’s stock after purchasing an additional 196 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Zimmer Biomet were worth $1,849,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ZBH. Norges Bank bought a new position in Zimmer Biomet during the 4th quarter valued at about $266,896,000. Van ECK Associates Corp lifted its holdings in Zimmer Biomet by 23.7% during the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after purchasing an additional 543,344 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Zimmer Biomet by 10.5% during the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after purchasing an additional 484,151 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 valued at $335,895,000 after purchasing an additional 386,019 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Zimmer Biomet by 105.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 457,532 shares of the medical equipment provider’s stock valued at $60,385,000 after acquiring an additional 235,014 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Trading Down 0.8 %

Zimmer Biomet stock traded down $0.89 during midday trading on Friday, hitting $110.50. 1,510,715 shares of the stock were exchanged, compared to its average volume of 1,652,033. The company has a fifty day simple moving average of $111.42 and a two-hundred day simple moving average of $119.89. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $143.24. The stock has a market capitalization of $22.73 billion, a PE ratio of 23.92, a P/E/G ratio of 1.99 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm earned $1.89 EPS. Zimmer Biomet’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZBH. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Oppenheimer raised their price objective on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Morgan Stanley lowered their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Finally, Truist Financial lowered their price objective on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $129.53.

About Zimmer Biomet

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.