FNY Investment Advisers LLC Raises Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

FNY Investment Advisers LLC boosted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 90.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 400 shares of the medical equipment provider’s stock after buying an additional 190 shares during the quarter. FNY Investment Advisers LLC’s holdings in Zimmer Biomet were worth $45,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dodge & Cox lifted its holdings in shares of Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Zimmer Biomet by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider’s stock valued at $1,559,147,000 after purchasing an additional 176,337 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock valued at $369,469,000 after purchasing an additional 2,796,372 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Zimmer Biomet by 7.6% during the fourth quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider’s stock valued at $250,367,000 after purchasing an additional 167,435 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $216,223,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Sang Yi sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider now owns 20,424 shares of the company’s stock, valued at $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Zimmer Biomet Trading Down 2.1%

NYSE:ZBH opened at $90.22 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The company has a market cap of $17.85 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.72. The company has a 50 day simple moving average of $96.01 and a two-hundred day simple moving average of $103.21.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet’s payout ratio is 21.24%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ZBH shares. Wells Fargo & Company lowered their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. BTIG Research restated a “buy” rating on shares of Zimmer Biomet in a report on Monday, April 14th. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a report on Tuesday, May 6th. Canaccord Genuity Group decreased their price objective on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a report on Monday, May 12th. Finally, Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $111.53.

About Zimmer Biomet

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.