Gradient Investments LLC Grows Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Gradient Investments LLC increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,903 shares of the medical equipment provider's stock after acquiring an additional 18,931 shares during the period. Gradient Investments LLC owned about 0.09% of Zimmer Biomet worth $21,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ZBH. NBC Securities Inc. lifted its stake in Zimmer Biomet by 176,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,768 shares of the medical equipment provider's stock valued at $200,000 after purchasing an additional 1,767 shares during the last quarter. Enterprise Bank & Trust Co bought a new position in Zimmer Biomet in the 1st quarter valued at approximately $388,000. Douglas Lane & Associates LLC lifted its stake in Zimmer Biomet by 5.2% in the 1st quarter. Douglas Lane & Associates LLC now owns 423,303 shares of the medical equipment provider's stock valued at $47,909,000 after purchasing an additional 21,095 shares during the last quarter. Czech National Bank lifted its stake in Zimmer Biomet by 5.9% in the 1st quarter. Czech National Bank now owns 45,724 shares of the medical equipment provider's stock valued at $5,175,000 after purchasing an additional 2,560 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Zimmer Biomet by 5.7% in the 1st quarter. Rhumbline Advisers now owns 426,527 shares of the medical equipment provider's stock valued at $48,274,000 after purchasing an additional 22,889 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Up 1.0%

NYSE:ZBH traded up $0.92 during trading hours on Thursday, reaching $92.38. The company had a trading volume of 527,441 shares, compared to its average volume of 1,794,932. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.95 and a beta of 0.78. The business's 50-day simple moving average is $98.78 and its two-hundred day simple moving average is $104.41. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued 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. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business's revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZBH. Raymond James dropped their price objective on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a research note on Tuesday, May 6th. The Goldman Sachs Group dropped their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Finally, JMP Securities dropped their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of "Hold" and an average price target 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.