New World Advisors LLC Has $548,000 Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New World Advisors LLC increased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 26.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,838 shares of the medical equipment provider’s stock after purchasing an additional 1,025 shares during the quarter. New World Advisors LLC’s holdings in Zimmer Biomet were worth $548,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ZBH. Garde Capital Inc. bought a new stake in shares of Zimmer Biomet during the first quarter worth $29,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet in the 4th quarter worth $30,000. Accredited Wealth Management LLC acquired a new position in Zimmer Biomet in the 4th quarter worth $36,000. OFI Invest Asset Management bought a new position in Zimmer Biomet during the 4th quarter worth about $40,000. Finally, FNY Investment Advisers LLC raised its stake in shares of Zimmer Biomet by 90.5% in the 1st quarter. FNY Investment Advisers LLC now owns 400 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 190 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $92.79 on Thursday. The company has a quick ratio of 1.46, a current ratio of 2.44 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 stock’s 50 day moving average price is $94.89 and its two-hundred day moving average price is $102.50. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 2.13 and a beta of 0.72.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate 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. Zimmer Biomet’s revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 yield of 1.03%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet’s dividend payout ratio is 21.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ZBH shares. Canaccord Genuity Group decreased their price objective on Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a report on Monday, May 12th. Royal Bank Of Canada decreased their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Raymond James Financial lowered their price objective on shares of Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Morgan Stanley reduced their target price 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. Finally, Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a “buy” rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $111.53.

Insiders Place Their Bets

In related news, insider Sang Yi sold 1,000 shares of the company’s stock in a transaction dated 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. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.39% of the company’s stock.

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.