Covestor Ltd Has $179,000 Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Covestor Ltd raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 74.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,358 shares of the medical equipment provider’s stock after purchasing an additional 578 shares during the quarter. Covestor Ltd’s holdings in Zimmer Biomet were worth $179,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its position in Zimmer Biomet by 11,244.9% in the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock worth $8,146,000 after purchasing an additional 66,345 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Zimmer Biomet by 37.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock worth $18,981,000 after acquiring an additional 42,539 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Zimmer Biomet by 10.1% in the 4th quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock valued at $20,640,000 after purchasing an additional 15,552 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Zimmer Biomet by 499.0% during the 4th quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock worth $16,397,000 after purchasing an additional 112,237 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. lifted its holdings in Zimmer Biomet by 13.8% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock valued at $19,253,000 after purchasing an additional 19,144 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ZBH. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Oppenheimer increased their price objective on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Truist Financial dropped their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price on the stock. Finally, Barclays lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $129.53.

Zimmer Biomet Price Performance

Shares of ZBH traded down $0.37 during mid-day trading on Tuesday, reaching $109.96. 252,356 shares of the stock traded hands, compared to its average volume of 1,492,933. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $143.09. The firm has a fifty day moving average price of $111.24 and a 200 day moving average price of $119.82. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38.

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. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $1.89 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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 $0.24 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio is 20.78%.

Zimmer Biomet 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.