Azzad Asset Management Inc. ADV Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Azzad Asset Management Inc. ADV decreased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,842 shares of the medical equipment provider’s stock after selling 108 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Zimmer Biomet were worth $903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZBH. OLD Point Trust & Financial Services N A bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at $30,000. Naples Money Management LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter worth about $35,000. Activest Wealth Management boosted its stake in shares of Zimmer Biomet by 410.4% during the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 275 shares during the period. Finally, Blue Trust Inc. grew its holdings in Zimmer Biomet by 48.4% during the 4th quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 0.3 %

NYSE:ZBH traded up $0.32 during trading hours on Wednesday, reaching $106.59. The company’s stock had a trading volume of 231,603 shares, compared to its average volume of 1,502,609. The stock has a 50 day moving average price of $114.69 and a two-hundred day moving average price of $121.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. The company has a market capitalization of $21.93 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $144.13.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.89 EPS. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Oppenheimer raised their price objective on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a research note on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target for the company. Evercore ISI cut their price objective on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a research report on Tuesday. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Tuesday, May 21st. Finally, Citigroup upped their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $131.76.

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.