World Investment Advisors grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 138.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,653 shares of the medical equipment provider's stock after purchasing an additional 3,862 shares during the period. World Investment Advisors' holdings in Zimmer Biomet were worth $753,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. Brighton Jones LLC purchased a new stake in Zimmer Biomet during the fourth quarter worth about $204,000. Proficio Capital Partners LLC purchased a new stake in Zimmer Biomet during the fourth quarter worth about $55,000. Atria Investments Inc increased its holdings in Zimmer Biomet by 54.0% during the fourth quarter. Atria Investments Inc now owns 8,358 shares of the medical equipment provider's stock worth $883,000 after buying an additional 2,929 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Zimmer Biomet during the fourth quarter worth about $21,234,000. Finally, Larson Financial Group LLC increased its holdings in Zimmer Biomet by 10.6% during the fourth quarter. Larson Financial Group LLC now owns 3,769 shares of the medical equipment provider's stock worth $398,000 after buying an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Evercore ISI decreased their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a report on Tuesday. Wells Fargo & Company cut their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley cut their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, JMP Securities cut their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $110.56.
View Our Latest Report on ZBH
Zimmer Biomet Trading Up 1.0%
Shares of Zimmer Biomet stock opened at $93.46 on Wednesday. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.14 and a beta of 0.71. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The company's 50-day moving average price is $93.67 and its 200-day moving average price is $101.57.
Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. Zimmer Biomet's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.
Zimmer Biomet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is currently 21.24%.
Insiders Place Their Bets
In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.
About Zimmer Biomet
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Free Report)
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.
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