Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by United Asset Strategies Inc.

United Asset Strategies Inc. boosted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,564 shares of the medical equipment provider’s stock after buying an additional 387 shares during the period. United Asset Strategies Inc.’s holdings in Zimmer Biomet were worth $1,680,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BLB&B Advisors LLC increased its position in shares of Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock worth $529,000 after purchasing an additional 100 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Zimmer Biomet by 3.5% during the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after buying an additional 103 shares in the last quarter. PFG Advisors raised its position in shares of Zimmer Biomet by 5.5% in the first quarter. PFG Advisors now owns 2,004 shares of the medical equipment provider’s stock valued at $265,000 after buying an additional 105 shares during the last quarter. M&R Capital Management Inc. lifted its stake in shares of Zimmer Biomet by 14.1% in the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock worth $92,000 after buying an additional 105 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC boosted its position in Zimmer Biomet by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial reiterated a “hold” rating and issued a $112.00 price objective (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Oppenheimer reduced their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Evercore ISI lowered their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Morgan Stanley cut their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, Raymond James dropped their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.94.

Zimmer Biomet Trading Down 2.2 %

NYSE ZBH traded down $2.38 during trading on Thursday, hitting $107.43. The stock had a trading volume of 457,382 shares, compared to its average volume of 1,481,578. The company has a market capitalization of $22.10 billion, a PE ratio of 23.76, a PEG ratio of 1.88 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $107.24 and a 200 day moving average price of $111.03.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.01). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.