First Trust Advisors LP raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 23.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 387,537 shares of the medical equipment provider’s stock after acquiring an additional 73,053 shares during the quarter. First Trust Advisors LP’s holdings in Zimmer Biomet were worth $35,041,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. DV Equities LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $25,000. Monetary Solutions Ltd acquired a new position in Zimmer Biomet during the 4th quarter worth $30,000. Gen Wealth Partners Inc purchased a new stake in Zimmer Biomet during the 4th quarter worth about $31,000. Flagship Harbor Advisors LLC purchased a new stake in Zimmer Biomet during the 4th quarter worth about $32,000. Finally, Cornerstone Financial Management LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 88.89% of the company’s stock.
Insider Buying and Selling
In other news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the transaction, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.28% of the company’s stock.
Zimmer Biomet Trading Up 0.9%
Zimmer Biomet (NYSE:ZBH – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm posted $1.81 EPS. Zimmer Biomet’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current year.
Zimmer Biomet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, June 25th. Zimmer Biomet’s payout ratio is currently 24.94%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company decreased their price target on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Stifel Nicolaus lowered their price target on shares of Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. BMO Capital Markets initiated coverage on shares of Zimmer Biomet in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $95.00 price objective on the stock. Finally, Robert W. Baird set a $92.00 price objective on shares of Zimmer Biomet in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $100.70.
Get Our Latest Stock Report on Zimmer Biomet
About Zimmer Biomet
Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.
The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.
Featured Articles
- Five stocks we like better than Zimmer Biomet
- AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next
- Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now
- Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?
- Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight
Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report).
Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.
