Gries Financial LLC Purchases Shares of 8,196 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Gries Financial LLC purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,196 shares of the medical equipment provider’s stock, valued at approximately $866,000.

Several other hedge funds have also modified their holdings of ZBH. Public Sector Pension Investment Board increased its holdings in shares of Zimmer Biomet by 74.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 8,020 shares of the medical equipment provider’s stock worth $870,000 after buying an additional 3,423 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Zimmer Biomet by 12.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,080 shares of the medical equipment provider’s stock valued at $877,000 after purchasing an additional 881 shares during the period. Quarry LP acquired a new position in shares of Zimmer Biomet during the second quarter worth about $53,000. EP Wealth Advisors LLC boosted its holdings in Zimmer Biomet by 10.5% during the second quarter. EP Wealth Advisors LLC now owns 2,358 shares of the medical equipment provider’s stock worth $256,000 after buying an additional 225 shares in the last quarter. Finally, Brown Financial Advisors purchased a new stake in Zimmer Biomet during the second quarter worth about $890,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZBH. Royal Bank of Canada upped their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Wednesday. BTIG Research reduced their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company increased their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Truist Financial increased their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $124.11.

Zimmer Biomet Trading Down 0.5 %

ZBH opened at $111.25 on Thursday. The stock has a market cap of $22.15 billion, a PE ratio of 21.15, a PEG ratio of 1.88 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $107.87 and a 200-day moving average of $108.20. Zimmer Biomet Holdings, Inc. has a 52 week low of $100.67 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. Equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, December 30th. Zimmer Biomet’s payout ratio is presently 18.25%.

Zimmer Biomet Company 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.