Bridge Creek Capital Management LLC Grows Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bridge Creek Capital Management LLC grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,836 shares of the medical equipment provider’s stock after buying an additional 215 shares during the period. Bridge Creek Capital Management LLC’s holdings in Zimmer Biomet were worth $3,037,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. ST Germain D J Co. Inc. grew its stake in Zimmer Biomet by 12.4% in the 1st quarter. ST Germain D J Co. Inc. now owns 102,072 shares of the medical equipment provider’s stock worth $11,553,000 after buying an additional 11,227 shares in the last quarter. Paladin Wealth LLC grew its stake in Zimmer Biomet by 6.8% in the 1st quarter. Paladin Wealth LLC now owns 5,829 shares of the medical equipment provider’s stock worth $660,000 after buying an additional 372 shares in the last quarter. Gradient Investments LLC grew its stake in Zimmer Biomet by 11.2% in the 1st quarter. Gradient Investments LLC now owns 187,903 shares of the medical equipment provider’s stock worth $21,267,000 after buying an additional 18,931 shares in the last quarter. NBC Securities Inc. grew its stake in Zimmer Biomet by 176,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,768 shares of the medical equipment provider’s stock worth $200,000 after buying an additional 1,767 shares in the last quarter. Finally, Enterprise Bank & Trust Co purchased a new position in Zimmer Biomet in the 1st quarter worth approximately $388,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 1.1%

Shares of NYSE ZBH opened at $91.12 on Tuesday. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.92 and a 12 month high of $116.71. The firm has a fifty day simple moving average of $99.60 and a two-hundred day simple moving average of $104.59. The firm has a market capitalization of $18.03 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 EPS. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s payout ratio is 21.24%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. The trade was a 14.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ZBH shares. Wells Fargo & Company cut their price objective on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a research note on Tuesday, May 6th. Canaccord Genuity Group cut their price objective on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. cut their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet 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.