WealthPlan Investment Management LLC Invests $272,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Posted by Defense World Staff on Mar 18th, 2023

WealthPlan Investment Management LLC purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,187 shares of the medical equipment provider’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. raised its holdings in shares of Zimmer Biomet by 21.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 89,507 shares of the medical equipment provider’s stock worth $9,355,000 after buying an additional 15,965 shares during the period. Bridgefront Capital LLC purchased a new stake in shares of Zimmer Biomet in the third quarter worth approximately $519,000. Toroso Investments LLC raised its holdings in shares of Zimmer Biomet by 16.7% in the third quarter. Toroso Investments LLC now owns 28,621 shares of the medical equipment provider’s stock worth $2,992,000 after buying an additional 4,103 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Zimmer Biomet in the third quarter worth approximately $2,086,000. Finally, River & Mercantile Asset Management LLP raised its holdings in shares of Zimmer Biomet by 8.0% in the third quarter. River & Mercantile Asset Management LLP now owns 17,165 shares of the medical equipment provider’s stock worth $1,798,000 after buying an additional 1,270 shares during the period. 87.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Zimmer Biomet from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, February 6th. StockNews.com initiated coverage on Zimmer Biomet in a research note on Thursday. They issued a “buy” rating on the stock. Robert W. Baird increased their price objective on Zimmer Biomet from $133.00 to $145.00 in a research note on Monday, February 6th. Loop Capital increased their price objective on Zimmer Biomet from $125.00 to $140.00 in a research note on Monday, February 6th. Finally, Evercore ISI cut Zimmer Biomet from an “outperform” rating to an “inline” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $133.56.

Zimmer Biomet Stock Down 0.9 %

Zimmer Biomet stock opened at $124.31 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 0.97. The stock has a market capitalization of $26.11 billion, a price-to-earnings ratio of 113.01, a PEG ratio of 2.87 and a beta of 1.00. Zimmer Biomet Holdings, Inc. has a 1-year low of $100.39 and a 1-year high of $135.05. The business has a fifty day moving average price of $125.21 and a 200-day moving average price of $118.62.

Zimmer Biomet (NYSE:ZBH – Get Rating) last posted its quarterly earnings data on Friday, February 3rd. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.05. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 EPS. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.04 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, March 29th will be given a $0.24 dividend. The ex-dividend date is Tuesday, March 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.77%. Zimmer Biomet’s payout ratio is 87.27%.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.