Securian Asset Management Inc. Purchases 100 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Posted by Defense World Staff on Apr 24th, 2023

Securian Asset Management Inc. lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,176 shares of the medical equipment provider’s stock after acquiring an additional 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Zimmer Biomet were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ZBH. Crossmark Global Holdings Inc. grew its position in shares of Zimmer Biomet by 0.7% during the 3rd 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 position in shares of Zimmer Biomet by 4.0% during the 4th quarter. HB Wealth Management LLC now owns 2,371 shares of the medical equipment provider’s stock worth $302,000 after purchasing an additional 92 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Zimmer Biomet by 21.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 563 shares of the medical equipment provider’s stock worth $59,000 after purchasing an additional 99 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position 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 last quarter. Finally, Money Concepts Capital Corp lifted its position 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 last quarter. 87.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of research analyst reports. Evercore ISI raised shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and increased their target price for the company from $135.00 to $148.00 in a report on Tuesday, April 11th. Raymond James raised shares of Zimmer Biomet from a “market perform” rating to an “outperform” rating and set a $144.00 target price for the company in a research report on Thursday, January 5th. Morgan Stanley boosted their price objective on shares of Zimmer Biomet from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, February 6th. Robert W. Baird boosted their target price on shares of Zimmer Biomet from $133.00 to $145.00 in a report on Monday, February 6th. Finally, Piper Sandler upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $135.00 to $145.00 in a research note on Thursday, March 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $134.19.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $137.92 on Monday. Zimmer Biomet Holdings, Inc. has a one year low of $100.39 and a one year high of $140.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 1.88. The stock has a market cap of $28.82 billion, a price-to-earnings ratio of 125.38, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The stock has a 50 day moving average price of $127.16 and a 200-day moving average price of $122.30.

Zimmer Biomet (NYSE:ZBH – Get Rating) last posted its quarterly earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.05. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 EPS. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.04 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, March 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. Zimmer Biomet’s dividend payout ratio is currently 87.27%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 23,045 shares of the firm’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 sale, the vice president now directly owns 43,671 shares in the company, valued at $5,437,039.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.95% of the company’s stock.

About Zimmer Biomet

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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.