CoreCap Advisors LLC Acquires New Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Posted by Defense World Staff on Jun 2nd, 2023

CoreCap Advisors LLC acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 348 shares of the medical equipment provider’s stock, valued at approximately $44,000.

Several other hedge funds also recently bought and sold shares of ZBH. Creative Capital Management Investments LLC purchased a new position in Zimmer Biomet during the fourth quarter worth about $25,000. New England Capital Financial Advisors LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at approximately $27,000. Guardian Wealth Advisors LLC acquired a new stake in Zimmer Biomet in the third quarter valued at approximately $28,000. US Asset Management LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at approximately $33,000. Finally, Horizon Bancorp Inc. IN acquired a new stake in Zimmer Biomet in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $127.36 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $100.39 and a 12-month high of $149.25. The stock has a market capitalization of $26.56 billion, a P/E ratio of 59.51, a P/E/G ratio of 2.33 and a beta of 1.01. The firm’s 50-day moving average is $133.00 and its two-hundred day moving average is $127.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.89 and a quick ratio of 0.93.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The medical equipment provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.25. Zimmer Biomet had a net margin of 6.33% and a return on equity of 12.43%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the company earned $1.61 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 7.45 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 23rd. This represents a $0.96 annualized dividend and a dividend yield of 0.75%. Zimmer Biomet’s dividend payout ratio is currently 44.86%.

Insiders Place Their Bets

In related news, VP Chad F. Phipps sold 23,045 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were 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 of the company’s stock, valued at $5,437,039.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ZBH has been the subject of several research analyst reports. 58.com restated a “maintains” rating on shares of Zimmer Biomet in a report on Wednesday, May 3rd. Stifel Nicolaus upped their price objective on shares of Zimmer Biomet from $160.00 to $165.00 in a research report on Thursday, May 18th. FIG Partners upgraded shares of Zimmer Biomet to a “neutral” rating in a research report on Wednesday, May 3rd. Jefferies Financial Group upgraded shares of Zimmer Biomet from an “underperform” rating to a “hold” rating and increased their price target for the company from $115.00 to $130.00 in a report on Friday, March 31st. Finally, Royal Bank of Canada increased their price target on shares of Zimmer Biomet from $141.00 to $156.00 in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.67.

Zimmer Biomet 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.