New Wave Wealth Advisors LLC Invests $257,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New Wave Wealth Advisors LLC acquired a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,434 shares of the medical equipment provider’s stock, valued at approximately $257,000.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Zimmer Biomet by 12.4% during the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after buying an additional 411,163 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after purchasing an additional 9,990 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after purchasing an additional 577,320 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Zimmer Biomet by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after purchasing an additional 4,388 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 0.4 %

Zimmer Biomet stock opened at $110.63 on Friday. The firm has a market capitalization of $22.02 billion, a PE ratio of 21.03, a P/E/G ratio of 1.90 and a beta of 1.02. The company’s 50-day moving average is $107.95 and its 200-day moving average is $108.24. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.67 and a fifty-two week high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 EPS. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZBH. Barclays lowered their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday, December 12th. BTIG Research lowered their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Truist Financial raised their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.11.

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.