Defilade Capital Management L.P. Makes New $52.37 Million Investment in Zimmer Biomet Holdings, Inc. $ZBH

Defilade Capital Management L.P. bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the first quarter, HoldingsChannel reports. The institutional investor bought 579,161 shares of the medical equipment provider’s stock, valued at approximately $52,368,000. Zimmer Biomet comprises 7.4% of Defilade Capital Management L.P.’s holdings, making the stock its biggest position.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in Zimmer Biomet during the fourth quarter worth about $204,000. Sivia Capital Partners LLC acquired a new position in Zimmer Biomet during the second quarter worth about $232,000. United Bank increased its holdings in Zimmer Biomet by 10.7% in the second quarter. United Bank now owns 11,896 shares of the medical equipment provider’s stock valued at $1,085,000 after buying an additional 1,153 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Zimmer Biomet by 129.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 1,202 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Zimmer Biomet by 93.6% during the 2nd quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider’s stock valued at $7,004,000 after acquiring an additional 37,116 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Up 0.3%

ZBH stock opened at $94.20 on Monday. The company’s 50 day simple moving average is $88.84 and its 200-day simple moving average is $89.85. The firm has a market capitalization of $18.22 billion, a PE ratio of 24.47, a P/E/G 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 company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, June 25th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Zimmer Biomet’s dividend payout ratio is presently 24.94%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ZBH shares. Truist Financial restated a “hold” rating and issued a $92.00 price target (down from $98.00) on shares of Zimmer Biomet in a report on Wednesday, April 29th. Wall Street Zen raised Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Zacks Research downgraded Zimmer Biomet from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Citizens Jmp lowered their target price on Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price target on Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating for the company in a research report 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 given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $102.00.

Insider Buying and Selling

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

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.