Barnes Dennig Private Wealth Management LLC Invests $1.90 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 16,754 shares of the medical equipment provider's stock, valued at approximately $1,896,000. Zimmer Biomet accounts for about 2.9% of Barnes Dennig Private Wealth Management LLC's portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kingswood Wealth Advisors LLC grew its holdings in Zimmer Biomet by 20.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock valued at $295,000 after purchasing an additional 435 shares during the period. Stifel Financial Corp raised its stake in shares of Zimmer Biomet by 10.8% in the fourth quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock worth $10,144,000 after buying an additional 9,341 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at about $55,000. QRG Capital Management Inc. grew its stake in shares of Zimmer Biomet by 13.9% during the 1st quarter. QRG Capital Management Inc. now owns 6,775 shares of the medical equipment provider's stock valued at $767,000 after acquiring an additional 827 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in shares of Zimmer Biomet by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,316 shares of the medical equipment provider's stock valued at $2,638,000 after acquiring an additional 620 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of ZBH stock traded up $0.17 during trading hours on Friday, hitting $93.67. The stock had a trading volume of 927,032 shares, compared to its average volume of 1,808,334. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.17 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The stock's 50-day moving average price is $94.20 and its two-hundred day moving average price is $101.88.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's payout ratio is 21.24%.

Insider Buying and Selling

In other news, insider Sang Yi sold 1,000 shares of the business'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 sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ZBH has been the topic of a number of recent analyst reports. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research note on Tuesday, May 6th. Raymond James Financial reduced their price objective on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Royal Bank Of Canada lowered their target price on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $111.33.

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.