Lmcg Investments LLC Grows Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Lmcg Investments LLC raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,260 shares of the medical equipment provider's stock after acquiring an additional 5,311 shares during the period. Lmcg Investments LLC's holdings in Zimmer Biomet were worth $6,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ZBH. Brighton Jones LLC purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $204,000. Spire Wealth Management boosted its stake in Zimmer Biomet by 271.1% in the fourth quarter. Spire Wealth Management now owns 1,295 shares of the medical equipment provider's stock worth $137,000 after buying an additional 946 shares in the last quarter. Greenleaf Trust boosted its stake in Zimmer Biomet by 21.3% in the fourth quarter. Greenleaf Trust now owns 4,908 shares of the medical equipment provider's stock worth $518,000 after buying an additional 863 shares in the last quarter. abrdn plc boosted its stake in Zimmer Biomet by 0.5% in the fourth quarter. abrdn plc now owns 370,283 shares of the medical equipment provider's stock worth $39,046,000 after buying an additional 1,982 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Zimmer Biomet by 100.9% in the fourth quarter. Mather Group LLC. now owns 661 shares of the medical equipment provider's stock worth $70,000 after buying an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

ZBH has been the subject of several research reports. Raymond James cut their target price on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Robert W. Baird cut their target price on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Barclays decreased their price target on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research note on Monday, February 10th. Finally, Wells Fargo & Company cut their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Two equities 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $111.53.

Zimmer Biomet Trading Up 0.4%

NYSE ZBH traded up $0.36 during trading on Thursday, hitting $91.82. The company had a trading volume of 1,265,442 shares, compared to its average volume of 1,801,225. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The company has a market cap of $18.17 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. The company's fifty day moving average is $98.78 and its 200-day moving average is $104.41.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business 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 earned $1.94 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is presently 21.24%.

Zimmer Biomet Company 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.