Atria Wealth Solutions Inc. Raises Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Atria Wealth Solutions Inc. increased its stake in Zimmer Biomet Holdings, Inc. by 54.4% during the first quarter, holding a total of 23,640 shares valued at approximately $2.68 million.
• Analysts have mixed ratings on Zimmer Biomet, with target prices ranging from $95.00 to $115.00, leading to an average consensus price target of $111.44.
• Zimmer Biomet reported better-than-expected quarterly earnings with an EPS of $2.07, surpassing analysts’ estimates of $1.98, and showed a revenue increase of 7.0% year-over-year.

Atria Wealth Solutions Inc. increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 54.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,640 shares of the medical equipment provider's stock after purchasing an additional 8,328 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Zimmer Biomet were worth $2,680,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MGO One Seven LLC lifted its stake in shares of Zimmer Biomet by 5.1% during the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock worth $238,000 after buying an additional 110 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Zimmer Biomet by 0.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock worth $2,903,000 after acquiring an additional 118 shares during the period. Curbstone Financial Management Corp lifted its holdings in shares of Zimmer Biomet by 3.4% during the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock worth $483,000 after acquiring an additional 140 shares during the period. Roberts Wealth Advisors LLC lifted its holdings in shares of Zimmer Biomet by 0.8% during the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock worth $2,093,000 after acquiring an additional 152 shares during the period. Finally, Wesbanco Bank Inc. lifted its stake in Zimmer Biomet by 0.8% in the 1st quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider's stock valued at $2,265,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ZBH shares. Royal Bank Of Canada increased their price objective on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. UBS Group increased their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a report on Tuesday, May 6th. JMP Securities reduced their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $111.44.

Zimmer Biomet Stock Performance

ZBH stock traded up $1.50 during mid-day trading on Wednesday, hitting $103.32. The company had a trading volume of 350,964 shares, compared to its average volume of 2,082,958. The firm has a market cap of $20.47 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The stock's fifty day moving average price is $93.71 and its two-hundred day moving average price is $99.59. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results 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 firm 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 10.51% and a return on equity of 12.76%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $2.01 earnings per share. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's payout ratio is currently 23.36%.

Insider Buying and Selling

In other news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.