Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Position Increased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,298 shares of the medical equipment provider’s stock after acquiring an additional 278 shares during the period. Pinnacle Associates Ltd.’s holdings in Zimmer Biomet were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clear Street Markets LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $27,000. Dark Forest Capital Management LP acquired a new position in Zimmer Biomet during the first quarter worth $35,000. Lazard Asset Management LLC increased its position in Zimmer Biomet by 70.5% during the third quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 117 shares during the last quarter. Activest Wealth Management grew its position in shares of Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Zimmer Biomet by 67.1% in the second quarter. Farther Finance Advisors LLC now owns 351 shares of the medical equipment provider’s stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Up 1.2 %

Shares of ZBH opened at $130.01 on Thursday. The stock has a market cap of $26.71 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 2.38 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $149.25. The company has a 50-day moving average price of $126.09 and a two-hundred day moving average price of $118.36.

Zimmer Biomet (NYSE:ZBHGet Free Report) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. Zimmer Biomet’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 19.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ZBH shares. Truist Financial raised their price target on Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, February 9th. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 9th. Evercore ISI downgraded Zimmer Biomet from an “outperform” rating to an “inline” rating and lowered their price target for the company from $135.00 to $125.00 in a research report on Thursday, January 4th. Finally, Citigroup raised their price target on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $139.11.

Get Our Latest Research Report on Zimmer Biomet

Insider Activity

In other news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.

Zimmer Biomet Company Profile

(Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic 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.

See Also

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

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