Financial Gravity Asset Management Inc. Purchases Shares of 129 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Financial Gravity Asset Management Inc. acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 129 shares of the medical equipment provider’s stock, valued at approximately $173,000.

Several other institutional investors have also recently modified their holdings of the company. Cutler Group LLC CA purchased a new stake in Zimmer Biomet in the 1st quarter worth approximately $25,000. Clear Street Markets LLC purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $27,000. Orion Capital Management LLC lifted its holdings in Zimmer Biomet by 234.7% in the 1st quarter. Orion Capital Management LLC now owns 251 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 176 shares during the period. Dark Forest Capital Management LP purchased a new stake in Zimmer Biomet in the 1st quarter worth approximately $35,000. Finally, Horizon Bancorp Inc. IN purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $38,000. 87.48% of the stock is currently owned by institutional investors.

Zimmer Biomet Trading Up 0.1 %

Shares of ZBH stock opened at $120.65 on Monday. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.60 and a 1 year high of $149.25. The company has a market cap of $25.21 billion, a PE ratio of 50.06, a price-to-earnings-growth ratio of 2.37 and a beta of 1.04. The stock’s 50 day simple moving average is $129.83 and its two-hundred day simple moving average is $131.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.96 and a quick ratio of 0.95.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Zimmer Biomet had a return on equity of 12.36% and a net margin of 7.03%. Zimmer Biomet’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.51 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio is presently 39.83%.

Insider Activity

In related news, Director Arthur J. Higgins purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $115.61 per share, with a total value of $115,610.00. Following the transaction, the director now owns 3,400 shares of the company’s stock, valued at $393,074. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Arthur J. Higgins acquired 1,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was bought at an average cost of $115.61 per share, for a total transaction of $115,610.00. Following the purchase, the director now owns 3,400 shares in the company, valued at $393,074. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael W. Michelson purchased 1,300 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $115.50 per share, for a total transaction of $150,150.00. Following the completion of the purchase, the director now directly owns 3,385 shares of the company’s stock, valued at $390,967.50. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 5,300 shares of company stock worth $619,090. Insiders own 0.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ZBH shares. Stifel Nicolaus increased their price objective on Zimmer Biomet from $160.00 to $165.00 in a report on Thursday, May 18th. 22nd Century Group restated a “maintains” rating on shares of Zimmer Biomet in a research note on Thursday, May 18th. StockNews.com initiated coverage on Zimmer Biomet in a research note on Thursday, August 17th. They set a “buy” rating for the company. UBS Group lifted their price objective on Zimmer Biomet from $116.00 to $125.00 in a research note on Wednesday, August 2nd. Finally, Truist Financial lowered their price objective on Zimmer Biomet from $153.00 to $148.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $145.16.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company 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. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.