Raymond James Trust N.A. Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Raymond James Trust N.A. raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,611 shares of the medical equipment provider’s stock after acquiring an additional 1,005 shares during the period. Raymond James Trust N.A.’s holdings in Zimmer Biomet were worth $1,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freedman Financial Associates Inc. acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $25,000. Charter Oak Capital Management LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $27,000. Gradient Investments LLC purchased a new stake in Zimmer Biomet in the 1st quarter valued at approximately $30,000. Regent Peak Wealth Advisors LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $29,000. Finally, Birchcreek Wealth Management LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Shares of NYSE ZBH opened at $163.77 on Thursday. Zimmer Biomet Holdings, Inc. has a 12-month low of $108.78 and a 12-month high of $180.36. The company has a market cap of $34.14 billion, a P/E ratio of 1,023.63, a P/E/G ratio of 4.32 and a beta of 1.34. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average price of $169.20 and a 200 day moving average price of $157.27.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Monday, May 3rd. The medical equipment provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.18. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.75 billion. Zimmer Biomet had a return on equity of 10.07% and a net margin of 0.52%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 EPS. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 4.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 30th. Stockholders of record on Monday, March 29th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.59%. Zimmer Biomet’s dividend payout ratio is presently 12.20%.

A number of research analysts have weighed in on the company. Northland Securities raised Zimmer Biomet from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a research note on Thursday, April 15th. Raymond James increased their price target on Zimmer Biomet from $187.00 to $200.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Zacks Investment Research lowered Zimmer Biomet from a “hold” rating to a “sell” rating and set a $167.00 price target on the stock. in a research note on Wednesday, February 10th. Truist increased their price target on Zimmer Biomet from $174.00 to $188.00 in a research note on Wednesday, May 5th. Finally, Needham & Company LLC increased their price target on Zimmer Biomet from $185.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Zimmer Biomet has a consensus rating of “Buy” and a consensus target price of $177.95.

In other Zimmer Biomet news, Director Arthur J. Higgins bought 1,000 shares of the stock in a transaction dated Thursday, May 6th. The stock was bought at an average cost of $171.58 per share, for a total transaction of $171,580.00. Following the completion of the purchase, the director now directly owns 3,400 shares of the company’s stock, valued at $583,372. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.44% of the stock is owned by company insiders.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides orthopaedic reconstructive products, such as knee and hip replacement products; S.E.T.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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