Enterprise Bank & Trust Co Takes $388,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Enterprise Bank & Trust Co purchased a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,432 shares of the medical equipment provider's stock, valued at approximately $388,000.

A number of other large investors also recently modified their holdings of ZBH. Roman Butler Fullerton & Co. purchased a new position in Zimmer Biomet in the 4th quarter worth about $473,000. KLCM Advisors Inc. purchased a new position in Zimmer Biomet in the 4th quarter worth about $7,825,000. Van ECK Associates Corp grew its stake in 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 valued at $417,814,000 after acquiring an additional 218,688 shares in the last quarter. MFG Wealth Management Inc. purchased a new position in Zimmer Biomet during the 4th quarter valued at about $1,506,000. Finally, Asset Management One Co. Ltd. grew its stake in Zimmer Biomet by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 81,913 shares of the medical equipment provider's stock valued at $8,754,000 after acquiring an additional 602 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZBH. Royal Bank of Canada lowered their target price on Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley lowered their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Raymond James lowered their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. The Goldman Sachs Group reduced their price target on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $111.53.

Zimmer Biomet Stock Performance

Shares of ZBH stock traded up $1.07 during trading hours on Thursday, reaching $92.53. 390,586 shares of the company's stock were exchanged, compared to its average volume of 1,794,391. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The stock has a market capitalization of $18.31 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.95 and a beta of 0.78. The business has a fifty day moving average price of $98.78 and a 200-day moving average price of $104.41. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

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, topping analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $1.94 earnings per share. The company's quarterly revenue was up 1.1% compared to the same quarter last year. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed 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 presently 21.24%.

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.