Pacer Advisors Inc. Buys 43,841 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Pacer Advisors Inc. raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.3% in the first quarter, HoldingsChannel.com reports. The firm owned 741,594 shares of the medical equipment provider’s stock after purchasing an additional 43,841 shares during the quarter. Pacer Advisors Inc.’s holdings in Zimmer Biomet were worth $67,055,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter worth approximately $25,000. Monetary Solutions Ltd acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth $30,000. Gen Wealth Partners Inc acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth $31,000. Flagship Harbor Advisors LLC bought a new position in Zimmer Biomet during the fourth quarter worth $32,000. Finally, Headlands Technologies LLC acquired a new position in Zimmer Biomet in the second quarter valued at $37,000. Institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the transaction, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.28% of the company’s stock.

Zimmer Biomet Stock Up 0.3%

Zimmer Biomet stock opened at $94.20 on Monday. The company has a market capitalization of $18.22 billion, a PE ratio of 24.47, a PEG ratio of 2.77 and a beta of 0.45. Zimmer Biomet Holdings, Inc. has a 12-month low of $79.12 and a 12-month high of $108.29. The firm’s fifty day moving average is $88.84 and its 200 day moving average is $89.85. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, June 25th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet’s dividend payout ratio is currently 24.94%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZBH. Leerink Partners began coverage on shares of Zimmer Biomet in a research report on Monday, April 13th. They set a “hold” rating and a $101.00 price target on the stock. BMO Capital Markets began coverage on Zimmer Biomet in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $95.00 price objective for the company. Truist Financial reissued a “hold” rating and issued a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Wall Street Zen upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Robert W. Baird set a $92.00 target price on Zimmer Biomet in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $102.00.

About Zimmer Biomet

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.