Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Position Raised by Auto Owners Insurance Co

Auto Owners Insurance Co raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 204.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,000 shares of the medical equipment provider's stock after buying an additional 45,650 shares during the period. Auto Owners Insurance Co's holdings in Zimmer Biomet were worth $7,696,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. OneDigital Investment Advisors LLC purchased a new position in Zimmer Biomet during the 1st quarter worth approximately $269,000. Keybank National Association OH grew its holdings in shares of Zimmer Biomet by 61.2% during the 1st quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider's stock valued at $1,620,000 after acquiring an additional 5,434 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Zimmer Biomet by 26.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider's stock valued at $35,800,000 after acquiring an additional 66,114 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Zimmer Biomet by 20.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider's stock valued at $295,000 after acquiring an additional 435 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Zimmer Biomet by 10.8% during the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider's stock valued at $10,144,000 after acquiring an additional 9,341 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

Insider Buying and Selling at Zimmer Biomet

In other 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 transaction of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company's stock.

Zimmer Biomet Stock Up 4.4%

Zimmer Biomet stock opened at $96.67 on Wednesday. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 2.16 and a beta of 0.71. 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 fifty-two week low of $89.22 and a fifty-two week high of $116.71. The firm has a fifty day moving average price of $93.26 and a two-hundred day moving average price of $100.86.

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, 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%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's payout ratio is 21.24%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZBH. Morgan Stanley lowered their price target 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. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a report on Tuesday, May 6th. Royal Bank Of Canada lowered their price target on shares of 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 target on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $111.39.

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.

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