QSM Asset Management Ltd Invests $9.28 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

QSM Asset Management Ltd bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 81,900 shares of the medical equipment provider's stock, valued at approximately $9,283,000. Zimmer Biomet comprises approximately 7.0% of QSM Asset Management Ltd's portfolio, making the stock its 3rd biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of Zimmer Biomet by 398.7% in the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after buying an additional 2,796,372 shares during the last quarter. Norges Bank acquired a new stake in shares of Zimmer Biomet in the fourth quarter worth $216,223,000. Dodge & Cox lifted its stake in shares of Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after buying an additional 2,044,645 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Zimmer Biomet by 191.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock worth $146,763,000 after acquiring an additional 913,310 shares during the last quarter. Finally, Sound Shore Management Inc. CT acquired a new position in Zimmer Biomet during the 4th quarter worth $81,447,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

ZBH stock traded down $0.28 during midday trading on Friday, reaching $91.46. 5,340,932 shares of the company's stock traded hands, compared to its average volume of 1,817,607. The company has a 50-day simple moving average of $94.65 and a two-hundred day simple moving average of $102.26. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.12 and a beta of 0.72. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. Zimmer Biomet's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 earnings per share. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a $0.24 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business'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 completion of the transaction, the insider now directly owns 20,424 shares of the company's stock, valued at approximately $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of several research analyst reports. Raymond James Financial cut their price objective on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. JMP Securities cut their price target on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Royal Bank Of Canada cut their target price on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Finally, Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Zimmer Biomet presently has an average rating of "Hold" and an average target price of $111.53.

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.