Gradient Investments LLC Has $14.67 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Gradient Investments LLC increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 59,968.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 111,126 shares of the medical equipment provider's stock after purchasing an additional 110,941 shares during the quarter. Gradient Investments LLC owned 0.05% of Zimmer Biomet worth $14,666,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wesbanco Bank Inc. lifted its stake in Zimmer Biomet by 10.4% in the 1st quarter. Wesbanco Bank Inc. now owns 19,982 shares of the medical equipment provider's stock valued at $2,637,000 after acquiring an additional 1,887 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Zimmer Biomet by 1.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 37,177 shares of the medical equipment provider's stock valued at $4,907,000 after acquiring an additional 625 shares during the last quarter. Rovin Capital UT ADV boosted its position in Zimmer Biomet by 18.4% during the first quarter. Rovin Capital UT ADV now owns 4,752 shares of the medical equipment provider's stock valued at $627,000 after purchasing an additional 737 shares during the last quarter. CKW Financial Group grew its stake in Zimmer Biomet by 180.3% in the first quarter. CKW Financial Group now owns 855 shares of the medical equipment provider's stock valued at $111,000 after purchasing an additional 550 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its position in shares of Zimmer Biomet by 31.9% during the 1st quarter. Lakewood Asset Management LLC now owns 3,216 shares of the medical equipment provider's stock worth $424,000 after purchasing an additional 777 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Chad F. Phipps sold 26,156 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares of the company's stock, valued at $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by corporate insiders.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded up $3.20 during midday trading on Friday, reaching $121.66. The company's stock had a trading volume of 1,847,585 shares, compared to its average volume of 1,304,580. The stock has a market cap of $25.00 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The company has a current ratio of 1.66, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $147.50. The business has a 50-day moving average price of $125.30 and a 200-day moving average price of $120.02.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company's revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.08 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet's dividend payout ratio (DPR) is presently 20.78%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ZBH shares. TheStreet upgraded shares of Zimmer Biomet from a "c" rating to a "b-" rating in a research note on Thursday, February 8th. StockNews.com downgraded shares of Zimmer Biomet from a "strong-buy" rating to a "buy" rating in a report on Monday, February 19th. Canaccord Genuity Group reissued a "hold" rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 23rd. Truist Financial reduced their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a "hold" rating for the company in a report on Friday. Finally, Barclays lifted their price target on Zimmer Biomet from $120.00 to $130.00 and gave the stock an "underweight" rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $135.40.

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.

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