GAMMA Investing LLC Grows Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

GAMMA Investing LLC boosted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 17,147.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,356 shares of the medical equipment provider's stock after buying an additional 394,058 shares during the period. GAMMA Investing LLC owned approximately 0.20% of Zimmer Biomet worth $44,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in 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 valued at $369,469,000 after purchasing an additional 2,796,372 shares during the last quarter. Norges Bank acquired a new position in Zimmer Biomet during the 4th quarter valued at about $216,223,000. Dodge & Cox boosted its stake in shares of Zimmer Biomet by 12.0% in the 4th 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. Nuveen Asset Management LLC grew 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 valued at $146,763,000 after acquiring an additional 913,310 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new position in shares of Zimmer Biomet in the fourth quarter valued at approximately $81,447,000. 88.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ZBH shares. JPMorgan Chase & Co. dropped their price objective on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note 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 research note on Tuesday, May 6th. Robert W. Baird dropped their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock 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. Finally, Barclays dropped their price objective on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $111.53.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $0.36 on Thursday, hitting $91.82. 1,265,442 shares of the company were exchanged, compared to its average volume of 1,797,707. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71. The stock's 50 day moving average price is $98.78 and its 200 day moving average price is $104.41. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $18.17 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

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

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. Zimmer Biomet's dividend payout ratio is currently 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.