ASR Vermogensbeheer N.V. Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Zimmer Biomet Holdings, purchasing 23,007 shares valued at approximately $2.6 million.
• Institutional ownership of Zimmer Biomet is significant, with hedge funds and institutional investors holding 88.89% of its stock.
• Recent analysts' ratings show a consensus rating of "Hold" with an average price target of $111.39 for Zimmer Biomet shares.

ASR Vermogensbeheer N.V. bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 23,007 shares of the medical equipment provider's stock, valued at approximately $2,604,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. OneDigital Investment Advisors LLC acquired a new position in Zimmer Biomet during the 1st quarter worth $269,000. Envestnet Asset Management Inc. raised its stake in shares of Zimmer Biomet by 26.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock valued at $35,800,000 after purchasing an additional 66,114 shares in the last quarter. Keybank National Association OH grew its stake in Zimmer Biomet by 61.2% in the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock worth $1,620,000 after purchasing an additional 5,434 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in Zimmer Biomet by 20.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock worth $295,000 after purchasing an additional 435 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Zimmer Biomet by 10.8% in the fourth quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock valued at $10,144,000 after buying an additional 9,341 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the insider owned 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZBH. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. The Goldman Sachs Group decreased their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Morgan Stanley lowered their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada decreased their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $111.39.

Zimmer Biomet Trading Up 7.8%

NYSE:ZBH opened at $98.31 on Friday. The stock has a market cap of $19.45 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 2.13 and a beta of 0.68. 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 1 year low of $89.22 and a 1 year high of $116.71. The business has a fifty day moving average of $93.20 and a 200-day moving average of $99.87.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.09. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.01 earnings per share. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.24%.

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.

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