Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Profund Advisors LLC

Posted by on Apr 23rd, 2023

Profund Advisors LLC increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,612 shares of the medical equipment provider’s stock after purchasing an additional 384 shares during the quarter. Profund Advisors LLC’s holdings in Zimmer Biomet were worth $461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZBH. Crossmark Global Holdings Inc. lifted its holdings in Zimmer Biomet by 0.7% in the third quarter. Crossmark Global Holdings Inc. now owns 14,006 shares of the medical equipment provider’s stock valued at $1,464,000 after acquiring an additional 91 shares during the period. HB Wealth Management LLC lifted its holdings in Zimmer Biomet by 4.0% in the fourth quarter. HB Wealth Management LLC now owns 2,371 shares of the medical equipment provider’s stock valued at $302,000 after acquiring an additional 92 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in Zimmer Biomet by 21.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 563 shares of the medical equipment provider’s stock valued at $59,000 after acquiring an additional 99 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in Zimmer Biomet by 5.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 1,860 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 102 shares during the period. Finally, Money Concepts Capital Corp lifted its holdings in Zimmer Biomet by 5.9% in the third quarter. Money Concepts Capital Corp now owns 1,901 shares of the medical equipment provider’s stock valued at $199,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 87.21% of the company’s stock.

Insider Buying and Selling at Zimmer Biomet

In other news, VP Chad F. Phipps sold 23,045 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $124.50, for a total value of $2,869,102.50. Following the transaction, the vice president now owns 43,671 shares of the company’s stock, valued at approximately $5,437,039.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $145.00 price target on shares of Zimmer Biomet in a report on Tuesday, February 7th. Piper Sandler upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $135.00 to $145.00 in a research report on Thursday, March 9th. Morgan Stanley boosted their price objective on Zimmer Biomet from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, February 6th. Evercore ISI upgraded Zimmer Biomet from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $148.00 in a research report on Tuesday, April 11th. Finally, Oppenheimer boosted their price objective on Zimmer Biomet from $120.00 to $142.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and an average price target of $134.19.

Zimmer Biomet Stock Down 0.3 %

Shares of NYSE:ZBH opened at $137.92 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.88 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $127.16 and a two-hundred day moving average of $122.16. The stock has a market cap of $28.82 billion, a P/E ratio of 125.38, a PEG ratio of 3.17 and a beta of 1.00. Zimmer Biomet Holdings, Inc. has a 52-week low of $100.39 and a 52-week high of $140.29.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.05. The company 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 firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 EPS. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.04 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Wednesday, March 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, March 28th. Zimmer Biomet’s payout ratio is currently 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.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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