Toroso Investments LLC Purchases 11,198 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Toroso Investments LLC grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 157.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,305 shares of the medical equipment provider’s stock after purchasing an additional 11,198 shares during the quarter. Toroso Investments LLC’s holdings in Zimmer Biomet were worth $2,341,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ZBH. Vanguard Group Inc. lifted its stake in shares of Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock valued at $2,954,843,000 after purchasing an additional 3,695,510 shares during the period. Norges Bank acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $256,611,000. Capital International Investors lifted its stake in shares of Zimmer Biomet by 41.4% in the 4th quarter. Capital International Investors now owns 5,530,514 shares of the medical equipment provider’s stock valued at $702,596,000 after purchasing an additional 1,618,582 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $197,607,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Zimmer Biomet by 11.5% in the 1st quarter. JPMorgan Chase & Co. now owns 12,772,584 shares of the medical equipment provider’s stock valued at $1,633,612,000 after purchasing an additional 1,321,955 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $115.77 on Friday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.39 and a fifty-two week high of $153.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.81 and a quick ratio of 0.95. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of 106.57, a PEG ratio of 3.45 and a beta of 1.14. The business has a 50-day moving average of $110.04 and a 200-day moving average of $115.86.

Zimmer Biomet (NYSE:ZBHGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. Zimmer Biomet had a return on equity of 12.20% and a net margin of 3.10%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted $1.90 earnings per share. Zimmer Biomet’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 6.8 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, September 29th. Zimmer Biomet’s payout ratio is currently 88.07%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZBH. Piper Sandler dropped their price objective on Zimmer Biomet from $130.00 to $120.00 in a research note on Tuesday, August 2nd. Morgan Stanley raised their price objective on Zimmer Biomet from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Stifel Nicolaus dropped their price objective on Zimmer Biomet from $140.00 to $120.00 in a research note on Monday, July 18th. Needham & Company LLC downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Finally, Truist Financial dropped their price objective on Zimmer Biomet to $115.00 in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $133.50.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Zuilen Wilfred Van sold 531 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $105.22, for a total transaction of $55,871.82. Following the completion of the sale, the insider now directly owns 2,240 shares in the company, valued at $235,692.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.73% of the company’s stock.

Zimmer Biomet Profile

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

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

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