Cerity Partners LLC Grows Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cerity Partners LLC grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 40.8% in the fourth quarter, Holdings Channel reports. The firm owned 17,344 shares of the medical equipment provider’s stock after purchasing an additional 5,024 shares during the period. Cerity Partners LLC’s holdings in Zimmer Biomet were worth $2,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ZBH. Clear Street Markets LLC purchased a new position in Zimmer Biomet in the fourth quarter worth $27,000. Lazard Asset Management LLC grew its position in Zimmer Biomet by 70.5% in the third quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 117 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in Zimmer Biomet in the first quarter worth $35,000. Activest Wealth Management grew its position in Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Finally, Peoples Bank KS purchased a new position in Zimmer Biomet in the third quarter worth $48,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Canaccord Genuity Group restated a “hold” rating and set a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Truist Financial upped their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Evercore ISI upped their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Finally, TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $119.43 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $149.25. The company has a 50-day simple moving average of $126.33 and a two-hundred day simple moving average of $119.16. The firm has a market capitalization of $24.54 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the business posted $1.88 earnings per share. Zimmer Biomet’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic 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.