Natixis Advisors LLC Buys 4,920 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Natixis Advisors LLC increased its stake in Zimmer Biomet Holdings by 6.9%, owning 76,302 shares valued at approximately $8.64 million.
• Zimmer Biomet's recent earnings report showed an EPS of $1.81 for the quarter, surpassing estimates, with revenue reaching $1.91 billion.
• The company declared a quarterly dividend of $0.24 per share, resulting in a dividend yield of 1.0% and a payout ratio of 21.24%.

Natixis Advisors LLC grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,302 shares of the medical equipment provider's stock after purchasing an additional 4,920 shares during the period. Natixis Advisors LLC's holdings in Zimmer Biomet were worth $8,636,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new position in Zimmer Biomet in the 1st quarter worth about $269,000. Envestnet Asset Management Inc. increased its position in Zimmer Biomet by 26.4% in the 1st 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 during the last quarter. Keybank National Association OH increased its position in Zimmer Biomet by 61.2% in the 1st 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 during the last quarter. Kingswood Wealth Advisors LLC increased its position in Zimmer Biomet by 20.0% in the 1st 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 during the last quarter. Finally, Stifel Financial Corp increased its position in Zimmer Biomet by 10.8% in the 4th 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 during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley dropped their target price on 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. Royal Bank Of Canada lowered their price objective on Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Raymond James Financial lowered their price objective on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Truist Financial set a $101.00 price objective on Zimmer Biomet in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $111.39.

Zimmer Biomet Stock Performance

ZBH traded down $0.84 during midday trading on Wednesday, reaching $91.21. The company's stock had a trading volume of 2,094,135 shares, compared to its average volume of 2,080,683. The stock has a market cap of $18.05 billion, a P/E ratio of 20.18, a PEG ratio of 2.16 and a beta of 0.68. The company has a fifty day simple moving average of $93.12 and a 200 day simple moving average of $100.01. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the company earned $1.94 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were given a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.24%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the firm'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 completion of the sale, the insider owned 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.39% of the company's stock.

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.