Gradient Investments LLC Grows Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Gradient Investments LLC boosted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 168,972 shares of the medical equipment provider’s stock after acquiring an additional 8,787 shares during the quarter. Gradient Investments LLC’s holdings in Zimmer Biomet were worth $17,849,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ZBH. Geode Capital Management LLC increased its position in shares of Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares during the last quarter. Van ECK Associates Corp raised its position in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after acquiring an additional 411,163 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Zimmer Biomet by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after acquiring an additional 9,990 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after purchasing an additional 577,320 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Zimmer Biomet by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after purchasing an additional 4,388 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $110.78 on Friday. The firm has a market capitalization of $22.05 billion, a PE ratio of 21.06, a PEG ratio of 1.88 and a beta of 1.02. The stock’s fifty day moving average is $107.89 and its 200 day moving average is $108.09. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.67 and a fifty-two week high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZBH. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays reduced their price objective on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research note on Thursday, December 12th. Raymond James dropped their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Truist Financial upped their price objective on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Profile

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.