Great Valley Advisor Group Inc. Takes $216,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Great Valley Advisor Group Inc. acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,782 shares of the medical equipment provider’s stock, valued at approximately $216,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Searle & CO. purchased a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $243,000. Concord Wealth Partners increased its position in Zimmer Biomet by 10.1% during the fourth quarter. Concord Wealth Partners now owns 1,420 shares of the medical equipment provider’s stock worth $173,000 after buying an additional 130 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Zimmer Biomet by 3.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock valued at $389,355,000 after acquiring an additional 118,839 shares in the last quarter. Arnhold LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at $1,118,000. Finally, Waycross Partners LLC purchased a new stake in Zimmer Biomet during the 4th quarter worth about $1,217,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZBH has been the topic of several analyst reports. Evercore ISI raised their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Oppenheimer lifted their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays increased their price target on Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Monday, February 12th. Truist Financial dropped their target price on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research note on Friday. Finally, TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $135.40.

Zimmer Biomet Price Performance

ZBH opened at $120.57 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market cap of $24.80 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.23 and a beta of 1.03. The company has a 50 day moving average of $125.17 and a two-hundred day moving average of $120.32. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $147.50.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company posted $1.89 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Insider Transactions at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction 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 sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

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.