Brookstone Capital Management Has $2.93 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brookstone Capital Management raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 25.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,270 shares of the medical equipment provider’s stock after buying an additional 4,732 shares during the quarter. Brookstone Capital Management’s holdings in Zimmer Biomet were worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Guardian Wealth Advisors LLC acquired a new stake in shares of Zimmer Biomet during the third quarter worth about $28,000. Ronald Blue Trust Inc. acquired a new stake in shares of Zimmer Biomet during the second quarter worth about $37,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Zimmer Biomet during the third quarter worth about $140,000. General Partner Inc. acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth about $41,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Zimmer Biomet during the third quarter worth about $44,000. Institutional investors and hedge funds own 87.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of research reports. Wells Fargo & Company upgraded Zimmer Biomet from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $116.00 to $124.00 in a report on Wednesday, November 23rd. Oppenheimer increased their price objective on Zimmer Biomet from $120.00 to $142.00 and gave the stock an “outperform” rating in a report on Monday, February 6th. Truist Financial increased their price objective on Zimmer Biomet from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, February 6th. StockNews.com initiated coverage on Zimmer Biomet in a report on Thursday. They set a “buy” rating for the company. Finally, Evercore ISI downgraded Zimmer Biomet from an “outperform” rating to an “inline” rating and set a $130.00 price objective for the company. in a report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $133.56.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $124.31 on Friday. The company has a current ratio of 1.88, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12 month low of $100.39 and a 12 month high of $135.05. The stock has a 50 day moving average of $125.21 and a 200-day moving average of $118.70. The company has a market capitalization of $26.11 billion, a P/E ratio of 113.01, a P/E/G ratio of 2.87 and a beta of 1.00.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.83 by $0.05. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $1.95 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.04 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Wednesday, March 29th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $0.96 annualized dividend and a yield of 0.77%. Zimmer Biomet’s payout ratio is currently 87.27%.

Zimmer Biomet Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.