FDx Advisors Inc. Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

FDx Advisors Inc. purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,857 shares of the medical equipment provider’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hamilton Wealth LLC bought a new stake in Zimmer Biomet during the 4th quarter worth about $3,202,000. abrdn plc raised its holdings in shares of Zimmer Biomet by 8.1% in the 4th quarter. abrdn plc now owns 54,187 shares of the medical equipment provider’s stock valued at $6,909,000 after purchasing an additional 4,050 shares during the period. Horizon Bancorp Inc. IN bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $38,000. Bank of Nova Scotia raised its holdings in shares of Zimmer Biomet by 348.6% in the 4th quarter. Bank of Nova Scotia now owns 93,075 shares of the medical equipment provider’s stock valued at $11,868,000 after purchasing an additional 72,328 shares during the period. Finally, Scotia Capital Inc. bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $1,877,000. 87.21% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $128.62 on Thursday. The company has a market cap of $26.83 billion, a price-to-earnings ratio of 60.10, a PEG ratio of 2.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.89 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $132.80 and a 200 day simple moving average of $126.65. Zimmer Biomet Holdings, Inc. has a one year low of $100.39 and a one year high of $149.25.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The medical equipment provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.25. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.70 billion. Zimmer Biomet had a net margin of 6.33% and a return on equity of 12.43%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.45 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, June 23rd. Zimmer Biomet’s dividend payout ratio is presently 44.86%.

Analyst Upgrades and Downgrades

ZBH has been the topic of several research analyst reports. Oppenheimer increased their price target on shares of Zimmer Biomet from $120.00 to $142.00 and gave the company an “outperform” rating in a report on Monday, February 6th. Royal Bank of Canada increased their price target on shares of Zimmer Biomet from $141.00 to $156.00 in a report on Wednesday, May 3rd. FIG Partners upgraded shares of Zimmer Biomet to a “neutral” rating in a research report on Wednesday, May 3rd. Sanford C. Bernstein increased their target price on shares of Zimmer Biomet from $136.00 to $152.00 in a research report on Wednesday, May 3rd. Finally, Barclays increased their target price on shares of Zimmer Biomet from $105.00 to $116.00 in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $143.67.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 23,045 shares of Zimmer Biomet stock in a transaction on Friday, March 17th. The shares were sold at an average price of $124.50, for a total transaction of $2,869,102.50. Following the completion of the transaction, the vice president now owns 43,671 shares of the company’s stock, valued at $5,437,039.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.95% of the stock is owned by insiders.

Zimmer Biomet Company 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.