Brookstone Capital Management Has $1.38 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brookstone Capital Management grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 16.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,109 shares of the medical equipment provider’s stock after purchasing an additional 1,837 shares during the period. Brookstone Capital Management’s holdings in Zimmer Biomet were worth $1,381,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Gilman Hill Asset Management LLC raised its holdings in Zimmer Biomet by 0.9% in the 1st quarter. Gilman Hill Asset Management LLC now owns 8,996 shares of the medical equipment provider’s stock valued at $1,151,000 after acquiring an additional 81 shares in the last quarter. SYM FINANCIAL Corp lifted its position in Zimmer Biomet by 4.9% during the first quarter. SYM FINANCIAL Corp now owns 1,769 shares of the medical equipment provider’s stock worth $226,000 after purchasing an additional 82 shares during the period. Roberts Glore & Co. Inc. IL grew its stake in Zimmer Biomet by 1.0% during the first quarter. Roberts Glore & Co. Inc. IL now owns 8,323 shares of the medical equipment provider’s stock worth $1,065,000 after buying an additional 85 shares in the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of Zimmer Biomet by 5.7% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,837 shares of the medical equipment provider’s stock valued at $235,000 after buying an additional 99 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Zimmer Biomet by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the medical equipment provider’s stock worth $1,767,000 after acquiring an additional 100 shares during the period. 89.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZBH. Stifel Nicolaus lowered their price objective on shares of Zimmer Biomet from $140.00 to $120.00 in a research report on Monday, July 18th. Truist Financial dropped their price objective on Zimmer Biomet to $115.00 in a research report on Friday, July 22nd. Morgan Stanley lifted their target price on Zimmer Biomet from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Citigroup increased their target price on shares of Zimmer Biomet from $114.00 to $119.00 in a report on Wednesday, August 3rd. Finally, Needham & Company LLC lowered shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $133.50.

Insider Transactions at Zimmer Biomet

In related news, insider Zuilen Wilfred Van sold 531 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $105.22, for a total transaction of $55,871.82. Following the sale, the insider now owns 2,240 shares in the company, valued at approximately $235,692.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH opened at $111.77 on Wednesday. The business has a 50-day moving average of $110.58 and a 200-day moving average of $115.56. 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 company has a market capitalization of $23.45 billion, a price-to-earnings ratio of 102.54, a price-to-earnings-growth ratio of 3.36 and a beta of 1.14. Zimmer Biomet Holdings, Inc. has a 1 year low of $100.39 and a 1 year high of $153.76.

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

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Zimmer Biomet’s payout ratio is currently 88.07%.

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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