Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY lifted its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 45.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,096 shares of the medical equipment provider's stock after acquiring an additional 40,869 shares during the period. Zimmer Biomet accounts for approximately 1.6% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 27th biggest holding. Matrix Asset Advisors Inc. NY owned approximately 0.07% of Zimmer Biomet worth $14,837,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ZBH. Brighton Jones LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at $204,000. Principal Securities Inc. boosted its position in shares of Zimmer Biomet by 23.7% in the 4th quarter. Principal Securities Inc. now owns 2,133 shares of the medical equipment provider's stock valued at $225,000 after purchasing an additional 409 shares during the period. Allworth Financial LP grew its stake in Zimmer Biomet by 66.2% during the 4th quarter. Allworth Financial LP now owns 1,843 shares of the medical equipment provider's stock worth $202,000 after buying an additional 734 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Zimmer Biomet during the 4th quarter worth approximately $104,000. Finally, D.A. Davidson & CO. lifted its stake in Zimmer Biomet by 36.4% in the fourth quarter. D.A. Davidson & CO. now owns 11,907 shares of the medical equipment provider's stock valued at $1,258,000 after buying an additional 3,175 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider now owns 20,424 shares of the company's stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Morgan Stanley lowered their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. The Goldman Sachs Group reduced their target price on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, Truist Financial set a $101.00 price objective on Zimmer Biomet in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $111.53.

Zimmer Biomet Price Performance

Shares of ZBH stock traded up $0.45 during midday trading on Wednesday, reaching $92.79. 2,539,664 shares of the company traded hands, compared to its average volume of 1,801,189. The firm's 50 day simple moving average is $94.98 and its two-hundred day simple moving average is $102.57. The firm has a market cap of $18.36 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.13 and a beta of 0.72. 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 released its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. Zimmer Biomet's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given a $0.24 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. Zimmer Biomet's dividend payout ratio is presently 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.