Crewe Advisors LLC Invests $31,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 234 shares of the medical equipment provider’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis acquired a new position in shares of Zimmer Biomet during the 1st quarter worth $13,599,000. Pitcairn Co. raised its stake in Zimmer Biomet by 17.2% in the 1st quarter. Pitcairn Co. now owns 2,657 shares of the medical equipment provider’s stock valued at $351,000 after purchasing an additional 389 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Zimmer Biomet by 7.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock valued at $30,265,000 after purchasing an additional 15,548 shares during the last quarter. Bessemer Group Inc. raised its stake in Zimmer Biomet by 13.0% in the 1st quarter. Bessemer Group Inc. now owns 4,220 shares of the medical equipment provider’s stock valued at $557,000 after purchasing an additional 487 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in Zimmer Biomet by 381.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 9,957 shares of the medical equipment provider’s stock valued at $1,314,000 after purchasing an additional 7,891 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZBH. Morgan Stanley cut their target price on shares of 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. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. Citigroup cut their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Truist Financial lowered their price target on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Finally, Oppenheimer lifted their price target on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.53.

Zimmer Biomet Trading Up 0.1 %

Shares of NYSE:ZBH traded up $0.09 during trading on Thursday, reaching $110.64. 1,597,914 shares of the stock were exchanged, compared to its average volume of 1,494,803. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $142.54. The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.98 and a beta of 1.01. The firm’s 50-day moving average price is $110.62 and its 200 day moving average price is $119.62.

Zimmer Biomet (NYSE:ZBH) last issued 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 return on equity of 12.70% and a net margin of 12.93%. 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 business earned $1.89 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is presently 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.