OFI Invest Asset Management Purchases New Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

OFI Invest Asset Management acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 395 shares of the medical equipment provider’s stock, valued at approximately $40,000.

Several other institutional investors have also recently bought and sold shares of ZBH. Janney Montgomery Scott LLC raised its position in Zimmer Biomet by 181.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 25,869 shares of the medical equipment provider’s stock valued at $2,793,000 after purchasing an additional 16,663 shares during the last quarter. Atria Investments Inc raised its position in Zimmer Biomet by 60.2% in the 3rd quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock valued at $586,000 after purchasing an additional 2,041 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in Zimmer Biomet by 95.2% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 5,254 shares of the medical equipment provider’s stock valued at $567,000 after purchasing an additional 2,563 shares during the last quarter. Covestor Ltd raised its position in Zimmer Biomet by 36.3% in the 3rd quarter. Covestor Ltd now owns 1,088 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 290 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Zimmer Biomet in the 3rd quarter valued at $28,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 1.9 %

NYSE:ZBH opened at $110.08 on Tuesday. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.95 and a beta of 1.04. The stock has a 50-day moving average price of $105.65 and a two-hundred day moving average price of $107.13.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the previous year, the business earned $2.20 earnings per share. As a group, equities analysts expect 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 Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s payout ratio is 21.57%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZBH. Stifel Nicolaus lifted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Barclays dropped their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Truist Financial restated a “hold” rating and set a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Finally, Raymond James dropped their target price on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $124.15.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.

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.