Douglas Lane & Associates LLC Has $47.91 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Douglas Lane & Associates LLC grew its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 423,303 shares of the medical equipment provider's stock after buying an additional 21,095 shares during the quarter. Douglas Lane & Associates LLC owned 0.21% of Zimmer Biomet worth $47,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dodge & Cox boosted its stake in Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after buying an additional 2,044,645 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Zimmer Biomet by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider's stock worth $1,559,147,000 after purchasing an additional 176,337 shares during the period. Van ECK Associates Corp grew its holdings in shares of Zimmer Biomet by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock worth $417,814,000 after purchasing an additional 218,688 shares during the period. Franklin Resources Inc. grew its holdings in shares of Zimmer Biomet by 398.7% during the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after purchasing an additional 2,796,372 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Zimmer Biomet by 7.6% during the 4th quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider's stock worth $250,367,000 after purchasing an additional 167,435 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Up 1.2%

Shares of Zimmer Biomet stock traded up $1.11 during trading on Thursday, hitting $92.57. 663,025 shares of the stock traded hands, compared to its average volume of 1,795,462. The stock has a market cap of $18.32 billion, a P/E ratio of 20.80, a PEG ratio of 1.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The company has a fifty day moving average price of $98.78 and a two-hundred day moving average price of $104.41.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share. Equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZBH. Truist Financial set a $101.00 target price on Zimmer Biomet in a research report on Tuesday, May 6th. Morgan Stanley dropped their price objective on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. JMP Securities dropped their price objective on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Finally, Wells Fargo & Company lowered their target price on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $111.53.

About Zimmer Biomet

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.