Allworth Financial LP increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 38.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574 shares of the medical equipment provider’s stock after acquiring an additional 158 shares during the period. Allworth Financial LP’s holdings in Zimmer Biomet were worth $84,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. Fairfield Bush & CO. purchased a new position in Zimmer Biomet in the first quarter worth about $111,000. United Bank raised its holdings in Zimmer Biomet by 4.1% in the first quarter. United Bank now owns 11,072 shares of the medical equipment provider’s stock worth $1,416,000 after buying an additional 437 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Zimmer Biomet by 153.9% in the first quarter. Panagora Asset Management Inc. now owns 9,803 shares of the medical equipment provider’s stock worth $1,254,000 after buying an additional 5,942 shares during the last quarter. Aviva PLC raised its holdings in Zimmer Biomet by 0.4% in the first quarter. Aviva PLC now owns 30,636 shares of the medical equipment provider’s stock worth $3,918,000 after buying an additional 137 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Zimmer Biomet by 11.2% in the first quarter. Allianz Asset Management GmbH now owns 41,816 shares of the medical equipment provider’s stock worth $5,348,000 after buying an additional 4,224 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.
Analysts Set New Price Targets
ZBH has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of Zimmer Biomet from $116.00 to $125.00 in a report on Wednesday, August 2nd. Truist Financial reduced their target price on shares of Zimmer Biomet from $153.00 to $148.00 and set a “hold” rating for the company in a report on Wednesday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $157.00 target price on shares of Zimmer Biomet in a report on Wednesday, August 2nd. Citigroup reduced their target price on shares of Zimmer Biomet from $146.00 to $125.00 and set a “neutral” rating for the company in a report on Monday. Finally, StockNews.com initiated coverage on shares of Zimmer Biomet in a report on Thursday, August 17th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $144.89.
Insider Activity
In other news, Director Arthur J. Higgins bought 1,000 shares of Zimmer Biomet stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $115.61 per share, with a total value of $115,610.00. Following the completion of the purchase, the director now owns 3,400 shares in the company, valued at approximately $393,074. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Michael W. Michelson purchased 1,300 shares of Zimmer Biomet stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $115.50 per share, with a total value of $150,150.00. Following the purchase, the director now directly owns 3,385 shares of the company’s stock, valued at approximately $390,967.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur J. Higgins purchased 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average cost of $115.61 per share, for a total transaction of $115,610.00. Following the purchase, the director now directly owns 3,400 shares in the company, valued at $393,074. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 5,300 shares of company stock valued at $619,090. 0.95% of the stock is currently owned by company insiders.
Zimmer Biomet Price Performance
ZBH stock opened at $109.65 on Thursday. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.60 and a 52 week high of $149.25. The company has a quick ratio of 0.95, a current ratio of 1.96 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $120.81 and a two-hundred day simple moving average of $130.67. The firm has a market capitalization of $22.91 billion, a P/E ratio of 45.50, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Zimmer Biomet had a net margin of 7.03% and a return on equity of 12.36%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $1.82 earnings per share. Zimmer Biomet’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.51 earnings per share for the current fiscal year.
Zimmer Biomet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, September 28th. Zimmer Biomet’s dividend payout ratio is currently 39.83%.
Zimmer Biomet Company Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.
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