Inlet Private Wealth LLC Has $4.67 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Inlet Private Wealth LLC increased its stake in Zimmer Biomet Holdings, Inc. by 64.0%, now owning $4.67 million worth of shares, making it 1.2% of their investment portfolio.
• Zimmer Biomet's recent quarterly earnings showed an EPS of $1.81, beating the estimate by $0.04, and revenues reached $1.91 billion, slightly above expectations.
• The company has declared a quarterly dividend of $0.24 per share, with a dividend yield of 0.98%, payable on July 31st to shareholders of record on June 26th.

Inlet Private Wealth LLC raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,270 shares of the medical equipment provider's stock after purchasing an additional 16,105 shares during the quarter. Zimmer Biomet makes up about 1.2% of Inlet Private Wealth LLC's investment portfolio, making the stock its 29th largest position. Inlet Private Wealth LLC's holdings in Zimmer Biomet were worth $4,671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new position in Zimmer Biomet in the first quarter worth $269,000. Keybank National Association OH boosted its stake in Zimmer Biomet by 61.2% in the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock worth $1,620,000 after purchasing an additional 5,434 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Zimmer Biomet by 26.4% in the first quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock worth $35,800,000 after purchasing an additional 66,114 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Zimmer Biomet by 20.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock worth $295,000 after purchasing an additional 435 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Zimmer Biomet by 10.8% in the fourth quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock worth $10,144,000 after purchasing an additional 9,341 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Up 0.7%

Shares of Zimmer Biomet stock opened at $97.59 on Monday. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The business has a 50-day moving average of $93.20 and a two-hundred day moving average of $100.63. The company has a market capitalization of $19.31 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 2.28 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 (NYSE:ZBH - Get Free Report) last announced its quarterly 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 return on equity of 12.73% and a net margin of 11.86%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.98%. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price target on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. JMP Securities decreased their price target on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Robert W. Baird decreased their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet has an average rating of "Hold" and a consensus price target of $111.39.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the 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 completion of the sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This 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 through the SEC website. 1.39% of the stock is owned by company 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.

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