Outfitter Financial LLC Acquires 1,650 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Outfitter Financial LLC raised its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 27.6% during the first quarter, Holdings Channel.com reports. The fund owned 7,620 shares of the medical equipment provider’s stock after purchasing an additional 1,650 shares during the quarter. Outfitter Financial LLC’s holdings in Zimmer Biomet were worth $862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Archer Investment Corp lifted its position in Zimmer Biomet by 54.2% during the first quarter. Archer Investment Corp now owns 1,423 shares of the medical equipment provider’s stock valued at $161,000 after purchasing an additional 500 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in shares of Zimmer Biomet in the first quarter worth $289,000. Forum Financial Management LP grew its stake in Zimmer Biomet by 29.9% during the first quarter. Forum Financial Management LP now owns 4,559 shares of the medical equipment provider’s stock valued at $516,000 after acquiring an additional 1,050 shares in the last quarter. Easterly Investment Partners LLC lifted its position in Zimmer Biomet by 2.0% during the first quarter. Easterly Investment Partners LLC now owns 66,505 shares of the medical equipment provider’s stock valued at $7,527,000 after purchasing an additional 1,273 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC lifted its position in Zimmer Biomet by 22.6% during the first quarter. Legacy Capital Wealth Partners LLC now owns 5,294 shares of the medical equipment provider’s stock valued at $599,000 after purchasing an additional 976 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ZBH shares. Wells Fargo & Company reduced their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Roth Capital raised shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $135.00 target price on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, JMP Securities decreased their price objective on shares of Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $111.39.

Insiders Place Their Bets

In related news, insider Sang Yi sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider owned 20,424 shares of the company’s stock, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is currently owned by company insiders.

Zimmer Biomet Trading Up 0.1%

ZBH stock traded up $0.08 during mid-day trading on Friday, hitting $94.98. 140,153 shares of the company were exchanged, compared to its average volume of 1,826,376. The firm has a market capitalization of $18.79 billion, a P/E ratio of 21.00, a PEG ratio of 2.18 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $93.30 and a 200-day simple moving average of $101.01.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 1.01%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.24%.

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.