Zimmer Biomet Holdings, Inc. $ZBH Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,537 shares of the medical equipment provider’s stock after buying an additional 73,053 shares during the quarter. First Trust Advisors LP owned about 0.20% of Zimmer Biomet worth $35,041,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ZBH. Oslo Pensjonsforsikring AS acquired a new position in Zimmer Biomet during the first quarter worth about $184,000. Glenview Trust Co raised its holdings in Zimmer Biomet by 23.8% in the 1st quarter. Glenview Trust Co now owns 4,894 shares of the medical equipment provider’s stock valued at $443,000 after acquiring an additional 941 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $44,000. Dimensional Fund Advisors LP lifted its stake in Zimmer Biomet by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,224,163 shares of the medical equipment provider’s stock worth $201,082,000 after purchasing an additional 24,208 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its holdings in shares of Zimmer Biomet by 23.7% during the 1st quarter. Sound Shore Management Inc. CT now owns 1,052,202 shares of the medical equipment provider’s stock worth $95,140,000 after purchasing an additional 201,445 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several recent research reports. Barclays cut their price target on Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating for the company in a report on Wednesday, April 29th. Stifel Nicolaus cut their target price on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Truist Financial reiterated a “hold” rating and set a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a report on Wednesday, April 29th. Citizens Jmp lowered their price target on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, Citigroup dropped their price objective on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $100.70.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of Zimmer Biomet stock in a transaction on Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.28% of the company’s stock.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $92.15 on Tuesday. The company’s 50 day simple moving average is $88.04 and its 200-day simple moving average is $89.77. The company has a market capitalization of $17.83 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.69 and a beta of 0.46. Zimmer Biomet Holdings, Inc. has a 1 year low of $79.12 and a 1 year high of $108.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company posted $1.81 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, June 25th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 24.94%.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.