Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its holdings in Zimmer Biomet by 342.3% in the first quarter, now owning 19,028 shares worth approximately $2.15 million.
• Zimmer Biomet recently reported quarterly earnings of $1.81 EPS, exceeding expectations of $1.77, with a revenue of $1.91 billion.
• The company has declared a quarterly dividend of $0.24 per share, which translates to an annualized dividend yield of 1.01%.

HB Wealth Management LLC increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 342.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,028 shares of the medical equipment provider's stock after acquiring an additional 14,726 shares during the period. HB Wealth Management LLC's holdings in Zimmer Biomet were worth $2,154,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet in the 1st quarter worth about $29,000. Menard Financial Group LLC bought a new position in Zimmer Biomet during the fourth quarter worth about $30,000. Washington Trust Advisors Inc. purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at approximately $30,000. Columbia River Financial Group LLC purchased a new position in Zimmer Biomet in the 1st quarter valued at approximately $30,000. Finally, Accredited Wealth Management LLC purchased a new position in Zimmer Biomet during the 4th quarter valued at about $36,000. 88.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Evercore ISI lowered their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Robert W. Baird reduced their target price 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. Morgan Stanley dropped their price target on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Raymond James Financial reduced their price objective on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $111.39.

Insiders Place Their Bets

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the insider directly owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Performance

ZBH traded down $1.38 during trading on Friday, reaching $90.27. 1,036,668 shares of the company's stock were exchanged, compared to its average volume of 2,073,887. The company's fifty day simple moving average is $93.21 and its 200-day simple moving average is $100.39. The stock has a market capitalization of $17.86 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.18 and a beta of 0.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results 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 company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) 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.