Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Spire Wealth Management

Spire Wealth Management lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1,224.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,156 shares of the medical equipment provider's stock after acquiring an additional 15,861 shares during the period. Spire Wealth Management's holdings in Zimmer Biomet were worth $1,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its position in shares of Zimmer Biomet by 2.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 83,548 shares of the medical equipment provider's stock valued at $9,456,000 after acquiring an additional 1,635 shares during the period. Oppenheimer Asset Management Inc. grew its position in Zimmer Biomet by 6.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,923 shares of the medical equipment provider's stock worth $1,236,000 after purchasing an additional 672 shares during the period. Live Oak Private Wealth LLC grew its position in Zimmer Biomet by 11.2% during the 1st quarter. Live Oak Private Wealth LLC now owns 53,355 shares of the medical equipment provider's stock worth $6,039,000 after purchasing an additional 5,369 shares during the period. Matrix Asset Advisors Inc. NY grew its position in Zimmer Biomet by 45.3% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 131,096 shares of the medical equipment provider's stock worth $14,837,000 after purchasing an additional 40,869 shares during the period. Finally, Garde Capital Inc. acquired a new stake in Zimmer Biomet during the 1st quarter worth about $29,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley cut their price target on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company cut their price target on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. JMP Securities cut their price target on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their target price on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Finally, 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 research note on Monday, May 12th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $111.53.

Zimmer Biomet Price Performance

ZBH traded down $0.28 during trading on Friday, reaching $91.46. The company's stock had a trading volume of 5,340,932 shares, compared to its average volume of 1,819,139. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $94.77 and a two-hundred day simple moving average of $102.38. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.14 and a beta of 0.72.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released 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. The business had revenue of $1.91 billion for 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 business's revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared 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. The ex-dividend date is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider now owns 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.39% of the stock is owned by insiders.

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.