Envestnet Asset Management Inc. Has $35.80 Million Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Envestnet Asset Management Inc. increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,308 shares of the medical equipment provider's stock after purchasing an additional 66,114 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Zimmer Biomet worth $35,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Garde Capital Inc. bought a new stake in shares of Zimmer Biomet in the 1st quarter valued at about $29,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet during the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. bought a new stake in Zimmer Biomet in the first quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new stake in Zimmer Biomet in the first quarter worth $30,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Zimmer Biomet during the fourth quarter worth $36,000. Institutional investors own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ZBH. Truist Financial set a $101.00 price objective on Zimmer Biomet in a research note on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Raymond James Financial lowered their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company cut their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $110.00.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH remained flat at $93.79 during midday trading on Monday. The company had a trading volume of 2,025,201 shares, compared to its average volume of 2,127,566. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The firm has a market capitalization of $18.56 billion, a PE ratio of 20.75, a PEG ratio of 2.17 and a beta of 0.71. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The company's fifty day moving average is $93.21 and its 200 day moving average is $101.27.

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

Zimmer Biomet Dividend Announcement

The company also recently declared 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. This represents a $0.96 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Insider Activity at Zimmer Biomet

In other 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 sale, the insider directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

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.