LPL Financial LLC Purchases 20,360 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

LPL Financial LLC boosted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,081 shares of the medical equipment provider's stock after acquiring an additional 20,360 shares during the quarter. LPL Financial LLC owned 0.06% of Zimmer Biomet worth $13,591,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at $204,000. Envestnet Asset Management Inc. grew its holdings in shares of Zimmer Biomet by 24.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 250,194 shares of the medical equipment provider's stock valued at $26,428,000 after acquiring an additional 49,821 shares in the last quarter. FMR LLC boosted its position in Zimmer Biomet by 91.6% during the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after purchasing an additional 687,675 shares during the last quarter. Cerity Partners LLC grew its position in shares of Zimmer Biomet by 6.6% in the 4th quarter. Cerity Partners LLC now owns 42,951 shares of the medical equipment provider's stock valued at $4,587,000 after acquiring an additional 2,644 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Zimmer Biomet by 47.6% during the 4th quarter. Bank of Montreal Can now owns 296,766 shares of the medical equipment provider's stock worth $31,347,000 after acquiring an additional 95,667 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. 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 report on Tuesday, May 6th. UBS Group set a $96.00 price target on shares of Zimmer Biomet and gave the company a "sell" rating in a report on Friday. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Finally, Royal Bank Of Canada boosted their price objective on shares of Zimmer Biomet from $112.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet has an average rating of "Hold" and a consensus price target of $111.44.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider owned 20,424 shares in the company, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Up 0.7%

Shares of Zimmer Biomet stock traded up $0.71 during trading on Friday, reaching $99.14. 2,459,698 shares of the company traded hands, compared to its average volume of 2,097,498. The firm has a market capitalization of $19.61 billion, a PE ratio of 21.93, a P/E/G ratio of 2.13 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71. The company has a 50 day moving average price of $93.20 and a 200-day moving average price of $99.87. 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 data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 earnings per share. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

Zimmer Biomet Company 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.