Bellevue Group AG Grows Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bellevue Group AG grew its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,217 shares of the medical equipment provider’s stock after purchasing an additional 1,129 shares during the period. Bellevue Group AG’s holdings in Zimmer Biomet were worth $37,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZBH. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet in the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet in the fourth quarter worth $30,000. Crewe Advisors LLC purchased a new stake in Zimmer Biomet in the first quarter worth $31,000. Naples Money Management LLC purchased a new stake in Zimmer Biomet in the fourth quarter worth $35,000. Finally, J.Safra Asset Management Corp increased its stake in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $0.65 during trading on Friday, hitting $111.29. The stock had a trading volume of 1,399,353 shares, compared to its average volume of 1,448,416. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $142.54. The stock has a market capitalization of $22.90 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.00 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. The stock has a 50-day simple moving average of $110.44 and a two-hundred day simple moving average of $119.50.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.87 billion. During the same period last year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s payout ratio is 20.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ZBH shares. The Goldman Sachs Group started coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target on the stock. Piper Sandler downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Tuesday, May 21st. Evercore ISI dropped their price target on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Finally, Morgan Stanley dropped their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average price target of $129.53.

Zimmer Biomet Company 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.