Sofinnova Investments Inc. Buys Shares of 10,630 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sofinnova Investments Inc. purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,630 shares of the medical equipment provider’s stock, valued at approximately $1,154,000.

Several other large investors have also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A acquired a new stake in Zimmer Biomet during the 4th quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Zimmer Biomet during the fourth quarter worth about $30,000. Crewe Advisors LLC purchased a new stake in Zimmer Biomet during the 1st quarter valued at about $31,000. Family Firm Inc. acquired a new stake in Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, J.Safra Asset Management Corp lifted its stake in Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Up 1.1 %

Shares of ZBH opened at $107.38 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market capitalization of $22.09 billion, a PE ratio of 23.24, a P/E/G ratio of 1.92 and a beta of 1.02. The company’s 50-day simple moving average is $109.92 and its 200-day simple moving average is $115.91. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Analysts Set New Price Targets

ZBH has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $115.00 in a report on Monday, July 1st. Citigroup reduced their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. UBS Group dropped their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada reduced their target price on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.17.

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.