Vivaldi Capital Management LP Takes $7.66 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Vivaldi Capital Management LP bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 68,048 shares of the medical equipment provider's stock, valued at approximately $7,657,000. Zimmer Biomet comprises approximately 1.2% of Vivaldi Capital Management LP's investment portfolio, making the stock its 27th biggest position.

A number of other large investors have also modified their holdings of ZBH. Two Sigma Investments LP purchased a new position in Zimmer Biomet during the fourth quarter worth approximately $4,085,000. Tidal Investments LLC boosted its position in shares of Zimmer Biomet by 21.4% during the 4th quarter. Tidal Investments LLC now owns 33,259 shares of the medical equipment provider's stock valued at $3,513,000 after acquiring an additional 5,855 shares during the last quarter. Trace Wealth Advisors LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $243,000. Studio Investment Management LLC grew its stake in shares of Zimmer Biomet by 3.4% in the 4th quarter. Studio Investment Management LLC now owns 17,964 shares of the medical equipment provider's stock valued at $1,902,000 after buying an additional 591 shares during the period. Finally, Snowden Capital Advisors LLC increased its holdings in shares of Zimmer Biomet by 84.5% during the 4th quarter. Snowden Capital Advisors LLC now owns 4,862 shares of the medical equipment provider's stock worth $515,000 after buying an additional 2,227 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 other news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company's stock, valued at approximately $915,379.20. The trade was a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.39% of the stock is currently owned by insiders.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $1.18 during mid-day trading on Friday, reaching $92.85. 2,632,971 shares of the stock were exchanged, compared to its average volume of 1,783,765. The stock has a market capitalization of $18.37 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.95 and a beta of 0.78. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.92 and a 1 year high of $119.06. The company has a 50 day simple moving average of $102.24 and a 200-day simple moving average of $105.48. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

Analysts Set New Price Targets

ZBH has been the subject of several analyst reports. The Goldman Sachs Group lowered their price objective on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Morgan Stanley decreased 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 report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.