Jefferies Financial Group Inc. Purchases 9,807 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Jefferies Financial Group Inc. significantly increased its stake in Zimmer Biomet Holdings, Inc. by 52.5% in the first quarter, owning 28,487 shares valued at approximately $3.22 million.
• Several analysts have reduced their price targets for Zimmer Biomet, with the consensus rating currently at "Hold" and an average target price of $111.39.
• Zimmer Biomet reported a quarterly EPS of $1.81, beating expectations, and has declared a $0.24 quarterly dividend, yielding 1.1% annually.

Jefferies Financial Group Inc. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 52.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 28,487 shares of the medical equipment provider's stock after purchasing an additional 9,807 shares during the period. Jefferies Financial Group Inc.'s holdings in Zimmer Biomet were worth $3,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dodge & Cox lifted its stake in Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Zimmer Biomet by 191.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after purchasing an additional 913,310 shares during the last quarter. FMR LLC lifted its stake 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. Freestone Grove Partners LP purchased a new position in Zimmer Biomet in the fourth quarter valued at approximately $67,954,000. Finally, Boston Trust Walden Corp purchased a new position in Zimmer Biomet in the first quarter valued at approximately $54,108,000. Hedge funds and other institutional investors own 88.89% of the company's stock.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on ZBH. Wells Fargo & Company dropped their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley lowered their target price 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. Canaccord Genuity Group lowered their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a report on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Two equities 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 data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $111.39.

Zimmer Biomet Trading Down 0.4%

NYSE ZBH traded down $0.35 during trading on Tuesday, hitting $92.05. 92,199 shares of the company's stock traded hands, compared to its average volume of 2,068,336. The stock has a fifty day moving average of $93.16 and a two-hundred day moving average of $100.07. 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 12-month low of $89.22 and a 12-month high of $116.71. The firm has a market cap of $18.21 billion, a P/E ratio of 20.36, a PEG ratio of 2.12 and a beta of 0.68.

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

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's dividend payout ratio is presently 21.24%.

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.