Charles Schwab Investment Management Inc. Increases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Charles Schwab Investment Management Inc. increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,253,429 shares of the medical equipment provider's stock after acquiring an additional 48,764 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of Zimmer Biomet worth $141,863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter valued at approximately $204,000. Envestnet Asset Management Inc. grew its holdings in Zimmer Biomet by 24.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 250,194 shares of the medical equipment provider's stock valued at $26,428,000 after purchasing an additional 49,821 shares during the last quarter. FMR LLC grew its holdings in Zimmer Biomet by 91.6% in the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after purchasing an additional 687,675 shares during the last quarter. Cerity Partners LLC grew its holdings in Zimmer Biomet by 6.6% in the fourth quarter. Cerity Partners LLC now owns 42,951 shares of the medical equipment provider's stock valued at $4,587,000 after purchasing an additional 2,644 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Zimmer Biomet in the fourth quarter valued at $21,234,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Ratings Changes

ZBH has been the topic of several research reports. UBS Group upped their target price on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a report on Friday, August 8th. JMP Securities lowered their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Evercore ISI lowered their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a report on Tuesday, July 8th. Truist Financial set a $101.00 target price on Zimmer Biomet in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $111.44.

Zimmer Biomet Trading Up 1.2%

NYSE:ZBH traded up $1.21 during mid-day trading on Wednesday, reaching $103.03. The company's stock had a trading volume of 1,254,277 shares, compared to its average volume of 2,089,097. The company's fifty day simple moving average is $93.71 and its two-hundred day simple moving average is $99.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The stock has a market cap of $20.41 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.28 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $2.01 EPS. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is 23.36%.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the firm'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 transaction, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

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.