Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Wahed Invest LLC

Wahed Invest LLC increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,120 shares of the medical equipment provider’s stock after acquiring an additional 671 shares during the period. Wahed Invest LLC’s holdings in Zimmer Biomet were worth $544,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ZBH. PFG Advisors lifted its position in Zimmer Biomet by 4.6% during the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after buying an additional 84 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Zimmer Biomet by 3.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. North Star Investment Management Corp. lifted its holdings in shares of Zimmer Biomet by 16.6% during the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Zimmer Biomet by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 100 shares in the last quarter. Finally, First Bancorp Inc ME lifted its holdings in shares of Zimmer Biomet by 5.3% during the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price on the stock. Truist Financial cut their price objective on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 30th. Morgan Stanley cut their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, Barclays cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $129.53.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.76 during mid-day trading on Friday, reaching $110.36. 1,137,746 shares of the company traded hands, compared to its average volume of 1,486,156. The firm has a market cap of $22.70 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. 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 Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The stock has a fifty day simple moving average of $109.87 and a 200-day simple moving average of $119.23.

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

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th were given a $0.24 dividend. The ex-dividend date was Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is 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.