7,041 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Purchased by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,041 shares of the medical equipment provider's stock, valued at approximately $797,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. raised its position in Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after purchasing an additional 2,796,372 shares during the period. Norges Bank purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $216,223,000. Dodge & Cox grew its stake in shares of Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after buying an additional 2,044,645 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Zimmer Biomet by 191.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock worth $146,763,000 after buying an additional 913,310 shares during the period. Finally, Sound Shore Management Inc. CT purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $81,447,000. 88.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Truist Financial set a $101.00 target price on Zimmer Biomet in a research report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Canaccord Genuity Group cut their price target on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Finally, JMP Securities decreased their price objective on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of "Hold" and an average price target of $111.53.

Zimmer Biomet Trading Up 0.3%

NYSE ZBH traded up $0.26 on Wednesday, reaching $90.47. 1,915,296 shares of the company were exchanged, compared to its average volume of 1,793,709. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The business's fifty day moving average price is $96.01 and its 200 day moving average price is $103.21. The stock has a market capitalization of $17.90 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.72. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. Zimmer Biomet's quarterly revenue was up 1.1% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 1.06%. Zimmer Biomet's payout ratio is 21.24%.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider now directly owns 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by 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.