MFG Wealth Management Inc. Invests $1.51 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

MFG Wealth Management Inc. bought a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 14,259 shares of the medical equipment provider’s stock, valued at approximately $1,506,000.

A number of other hedge funds have also recently bought and sold shares of the stock. CWM LLC raised its position in shares of Zimmer Biomet by 7.4% during the third quarter. CWM LLC now owns 6,966 shares of the medical equipment provider’s stock valued at $752,000 after buying an additional 481 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Zimmer Biomet by 3,043.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,603 shares of the medical equipment provider’s stock valued at $173,000 after acquiring an additional 1,552 shares in the last quarter. CX Institutional bought a new stake in shares of Zimmer Biomet in the 3rd quarter worth approximately $93,000. Wesbanco Bank Inc. grew its holdings in shares of Zimmer Biomet by 2.5% during the 3rd quarter. Wesbanco Bank Inc. now owns 20,411 shares of the medical equipment provider’s stock worth $2,203,000 after purchasing an additional 489 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Zimmer Biomet during the third quarter valued at approximately $105,000. 88.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ZBH shares. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Raymond James decreased their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Truist Financial restated a “hold” rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday. Wells Fargo & Company upped their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, Barclays cut their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Stock Performance

ZBH stock opened at $98.98 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $133.90. The company has a market cap of $19.70 billion, a P/E ratio of 22.24, a PEG ratio of 1.83 and a beta of 1.02. The business has a fifty day moving average of $106.91 and a 200-day moving average of $107.91.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the previous year, the company posted $2.20 earnings per share. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.25 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.97%. Zimmer Biomet’s payout ratio is presently 21.57%.

Zimmer Biomet Company 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.