DAVENPORT & Co LLC Buys 3,893 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

DAVENPORT & Co LLC raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,953 shares of the medical equipment provider's stock after acquiring an additional 3,893 shares during the period. DAVENPORT & Co LLC's holdings in Zimmer Biomet were worth $4,383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC increased its holdings in Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider's stock valued at $485,000 after acquiring an additional 102 shares during the last quarter. M&T Bank Corp increased its holdings in Zimmer Biomet by 0.4% in the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider's stock valued at $2,834,000 after acquiring an additional 108 shares during the last quarter. MGO One Seven LLC increased its holdings in Zimmer Biomet by 5.1% in the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock valued at $238,000 after acquiring an additional 110 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Zimmer Biomet by 0.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock valued at $2,903,000 after acquiring an additional 118 shares during the last quarter. Finally, FWG Holdings LLC increased its holdings in Zimmer Biomet by 3.5% in the 4th quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider's stock valued at $402,000 after acquiring an additional 124 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Trading Up 0.2%

NYSE:ZBH traded up $0.17 during mid-day trading on Friday, hitting $93.67. 927,032 shares of the stock traded hands, compared to its average volume of 1,811,399. 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 52 week low of $89.22 and a 52 week high of $116.71. The firm's 50 day moving average is $94.04 and its two-hundred day moving average is $101.76. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53.

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

Zimmer Biomet Dividend Announcement

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

Analyst Ratings Changes

ZBH has been the topic of a number of research reports. The Goldman Sachs Group reduced their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Finally, Raymond James Financial decreased their target price 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 equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $111.33.

Insider Buying and Selling

In other Zimmer Biomet 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 $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is owned by corporate insiders.

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.