Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Raised by Bellevue Group AG

Bellevue Group AG grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 282,217 shares of the medical equipment provider’s stock after buying an additional 1,129 shares during the period. Bellevue Group AG owned 0.14% of Zimmer Biomet worth $37,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. OLD Point Trust & Financial Services N A acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet during the first quarter valued at approximately $31,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $30,000. J.Safra Asset Management Corp increased its stake in shares of Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares during the period. Finally, Naples Money Management LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH traded up $0.65 on Friday, reaching $111.29. The stock had a trading volume of 1,399,353 shares, compared to its average volume of 1,448,416. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $142.54. The stock has a fifty day moving average price of $110.44 and a 200-day moving average price of $119.50. The company has a market capitalization of $22.90 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business earned $1.89 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Truist Financial decreased their price target on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Oppenheimer lifted their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $129.53.

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.