Banque Cantonale Vaudoise Invests $1.36 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Banque Cantonale Vaudoise has acquired 11,973 shares of Zimmer Biomet Holdings, valued at approximately $1,355,000, indicating growing interest in the medical equipment provider.
• Institutional ownership of Zimmer Biomet is strong, with 88.89% of the company's shares held by institutional investors and hedge funds.
• Analysts have recently adjusted their price targets for Zimmer Biomet, with the consensus rating now at "Hold" and an average price target of $111.39.

Banque Cantonale Vaudoise purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,973 shares of the medical equipment provider's stock, valued at approximately $1,355,000.

A number of other institutional investors have also bought and sold shares of ZBH. Dodge & Cox lifted its holdings in shares of Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after buying an additional 2,044,645 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Zimmer Biomet by 191.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock worth $146,763,000 after buying an additional 913,310 shares in the last quarter. FMR LLC lifted its holdings in shares of Zimmer Biomet by 91.6% in the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock worth $151,897,000 after buying an additional 687,675 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Zimmer Biomet in the fourth quarter worth $67,954,000. Finally, Boston Trust Walden Corp purchased a new position in shares of Zimmer Biomet in the first quarter worth $54,108,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Trading Down 1.1%

ZBH stock traded down $1.02 during mid-day trading on Friday, reaching $90.63. 2,308,387 shares of the stock traded hands, compared to its average volume of 1,662,550. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The stock has a market capitalization of $17.93 billion, a PE ratio of 20.05, a PEG ratio of 2.14 and a beta of 0.68. The business has a 50-day moving average price of $93.17 and a two-hundred day moving average price of $100.29.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. The business's revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were issued a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. Zimmer Biomet's dividend payout ratio is presently 21.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZBH. Roth Capital raised shares of Zimmer Biomet from a "neutral" rating to a "buy" rating and set a $135.00 target price on the stock in a report on Tuesday, July 15th. JMP Securities reduced their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Finally, Raymond James Financial reduced their price target on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $111.39.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.39% of the company's stock.

Zimmer Biomet Company 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.