Edge Financial Advisors LLC Makes New $285,000 Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Edge Financial Advisors LLC bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 1st quarter, HoldingsChannel.com reports. The firm bought 2,160 shares of the medical equipment provider’s stock, valued at approximately $285,000.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $115.00 in a research report on Monday. Barclays decreased their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. The Goldman Sachs Group assumed coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target on the stock. Citigroup lifted their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI dropped their price objective on shares of Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $131.76.

Zimmer Biomet Price Performance

NYSE ZBH traded up $0.01 during trading on Friday, reaching $106.59. The company’s stock had a trading volume of 133,931 shares, compared to its average volume of 1,495,074. The firm has a fifty day moving average of $114.14 and a 200 day moving average of $120.85. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $144.13. The stock has a market capitalization of $21.93 billion, a PE ratio of 23.07, a P/E/G ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. Analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) 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.