DAVENPORT & Co LLC Has $4.38 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

DAVENPORT & Co LLC raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,953 shares of the medical equipment provider's stock after purchasing an additional 3,893 shares during the period. DAVENPORT & Co LLC's holdings in Zimmer Biomet were worth $4,383,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ZBH. Summit Trail Advisors LLC lifted its position in Zimmer Biomet by 40.0% during the first quarter. Summit Trail Advisors LLC now owns 6,345 shares of the medical equipment provider's stock worth $720,000 after buying an additional 1,812 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Zimmer Biomet by 2.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,236 shares of the medical equipment provider's stock valued at $2,630,000 after purchasing an additional 557 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in Zimmer Biomet in the first quarter valued at $1,896,000. Insight Inv LLC purchased a new stake in Zimmer Biomet in the first quarter valued at $203,000. Finally, Washington Trust Advisors Inc. purchased a new stake in Zimmer Biomet in the first quarter valued at $30,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZBH shares. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a research note on Tuesday, May 6th. Truist Financial set a $101.00 price objective on Zimmer Biomet in a research note on Tuesday, May 6th. Royal Bank Of Canada cut their price target on Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird cut their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Raymond James Financial cut their price target on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $111.33.

Insider Buying and Selling

In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded down $1.09 during trading on Monday, reaching $92.58. The company had a trading volume of 1,994,496 shares, compared to its average volume of 1,812,132. The firm's fifty day moving average is $93.85 and its 200 day moving average is $101.63. The firm has a market capitalization of $18.32 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. 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 (NYSE:ZBH - Get Free Report) last released its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping 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 the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.04%. Zimmer Biomet's dividend payout ratio is presently 21.24%.

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.