IFM Investors Pty Ltd Grows Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

IFM Investors Pty Ltd grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,800 shares of the medical equipment provider's stock after purchasing an additional 4,225 shares during the period. IFM Investors Pty Ltd's holdings in Zimmer Biomet were worth $4,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC acquired a new position in Zimmer Biomet during the first quarter worth $269,000. D.A. Davidson & CO. grew its holdings in Zimmer Biomet by 5.1% during the first quarter. D.A. Davidson & CO. now owns 12,510 shares of the medical equipment provider's stock worth $1,416,000 after acquiring an additional 603 shares during the period. Principal Financial Group Inc. grew its holdings in Zimmer Biomet by 0.7% during the first quarter. Principal Financial Group Inc. now owns 226,613 shares of the medical equipment provider's stock worth $25,648,000 after acquiring an additional 1,596 shares during the period. Keybank National Association OH grew its holdings in Zimmer Biomet by 61.2% during the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock worth $1,620,000 after acquiring an additional 5,434 shares during the period. Finally, DAVENPORT & Co LLC grew its holdings in Zimmer Biomet by 11.1% during the first quarter. DAVENPORT & Co LLC now owns 38,953 shares of the medical equipment provider's stock worth $4,383,000 after acquiring an additional 3,893 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZBH shares. The Goldman Sachs Group dropped their price objective on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Evercore ISI lowered their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a report on Tuesday. Truist Financial set a $101.00 target price on Zimmer Biomet in a report on Tuesday, May 6th. Finally, Morgan Stanley lowered their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given 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 $110.56.

Zimmer Biomet Trading Up 1.2%

NYSE ZBH traded up $1.15 during trading hours on Tuesday, hitting $93.72. 238,291 shares of the company's stock were exchanged, compared to its average volume of 2,115,504. The business's 50 day moving average is $93.85 and its 200-day moving average is $101.63. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The firm has a market capitalization of $18.54 billion, a P/E ratio of 20.73, a price-to-earnings-growth 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.

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

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 1.02%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Insiders Place Their Bets

In other news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company's stock.

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.