Bay Harbor Wealth Management LLC Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bay Harbor Wealth Management LLC acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 438 shares of the medical equipment provider’s stock, valued at approximately $70,000.

Several other large investors have also recently made changes to their positions in ZBH. BlackRock Inc. raised its stake in shares of Zimmer Biomet by 23.9% in the fourth quarter. BlackRock Inc. now owns 19,395,694 shares of the medical equipment provider’s stock worth $2,988,683,000 after purchasing an additional 3,738,953 shares during the last quarter. Viking Global Investors LP raised its stake in shares of Zimmer Biomet by 128.8% in the fourth quarter. Viking Global Investors LP now owns 3,867,074 shares of the medical equipment provider’s stock worth $595,877,000 after purchasing an additional 2,176,989 shares during the last quarter. Norges Bank purchased a new position in shares of Zimmer Biomet in the fourth quarter worth about $304,733,000. Ceredex Value Advisors LLC raised its stake in shares of Zimmer Biomet by 38.7% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,455,992 shares of the medical equipment provider’s stock worth $224,701,000 after purchasing an additional 406,268 shares during the last quarter. Finally, FIL Ltd raised its stake in shares of Zimmer Biomet by 47.1% in the fourth quarter. FIL Ltd now owns 899,868 shares of the medical equipment provider’s stock worth $138,660,000 after purchasing an additional 288,310 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

ZBH has been the subject of several recent research reports. Needham & Company LLC lifted their price target on Zimmer Biomet from $185.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, February 5th. Northland Securities upgraded Zimmer Biomet from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $165.00 to $200.00 in a research report on Thursday, April 15th. Piper Sandler lifted their price target on Zimmer Biomet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, February 5th. Raymond James lifted their price target on Zimmer Biomet from $187.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Tuesday, May 11th. Finally, Truist lifted their price target on Zimmer Biomet from $174.00 to $188.00 in a research report on Wednesday, May 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $177.95.

Shares of NYSE:ZBH opened at $167.27 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.18 and a quick ratio of 1.02. The business’s 50 day moving average price is $169.51 and its 200-day moving average price is $157.49. The firm has a market capitalization of $34.87 billion, a PE ratio of 1,045.50, a P/E/G ratio of 4.32 and a beta of 1.34. Zimmer Biomet Holdings, Inc. has a 1 year low of $110.53 and a 1 year high of $180.36.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Monday, May 3rd. The medical equipment provider reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.18. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.75 billion. Zimmer Biomet had a return on equity of 10.07% and a net margin of 0.52%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 earnings per share. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 4.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 30th. Stockholders of record on Monday, March 29th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, March 26th. Zimmer Biomet’s dividend payout ratio is presently 12.20%.

In related news, Director Arthur J. Higgins acquired 1,000 shares of the stock in a transaction on Thursday, May 6th. The shares were bought at an average price of $171.58 per share, with a total value of $171,580.00. Following the completion of the purchase, the director now owns 3,400 shares of the company’s stock, valued at approximately $583,372. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.44% of the company’s stock.

Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides orthopaedic reconstructive products, such as knee and hip replacement products; S.E.T.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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