Assetmark Inc. raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 52.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,174 shares of the medical equipment provider’s stock after purchasing an additional 7,621 shares during the quarter. Assetmark Inc.’s holdings in Zimmer Biomet were worth $2,318,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. acquired a new stake in shares of Zimmer Biomet during the 2nd quarter valued at $37,000. CKW Financial Group lifted its position in shares of Zimmer Biomet by 3,000.0% during the 2nd quarter. CKW Financial Group now owns 310 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 300 shares during the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of Zimmer Biomet during the 3rd quarter valued at $44,000. Tsfg LLC lifted its position in shares of Zimmer Biomet by 295.5% during the 3rd quarter. Tsfg LLC now owns 435 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 325 shares during the last quarter. Finally, Clear Street Markets LLC lifted its position in shares of Zimmer Biomet by 409.3% during the 2nd quarter. Clear Street Markets LLC now owns 438 shares of the medical equipment provider’s stock valued at $46,000 after acquiring an additional 352 shares during the last quarter. 87.21% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on ZBH shares. Royal Bank of Canada upgraded Zimmer Biomet from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $125.00 to $141.00 in a research report on Monday, January 9th. Truist Financial increased their target price on Zimmer Biomet from $120.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, December 20th. StockNews.com started coverage on Zimmer Biomet in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Morgan Stanley increased their target price on Zimmer Biomet from $120.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, January 6th. Finally, Raymond James raised shares of Zimmer Biomet from a “market perform” rating to an “outperform” rating and set a $144.00 price target on the stock in a research note on Thursday, January 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $128.86.
Zimmer Biomet Trading Up 0.1 %
Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Zimmer Biomet had a return on equity of 11.92% and a net margin of 3.89%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.84 earnings per share for the current fiscal year.
Zimmer Biomet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, December 27th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, December 23rd. Zimmer Biomet’s dividend payout ratio is currently 72.73%.
Zimmer Biomet Profile
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.
- Get a free copy of the StockNews.com research report on Zimmer Biomet (ZBH)
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