LPL Financial LLC Has $13.59 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

LPL Financial LLC raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 20.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,081 shares of the medical equipment provider’s stock after acquiring an additional 20,360 shares during the quarter. LPL Financial LLC owned approximately 0.06% of Zimmer Biomet worth $13,591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at $269,000. Envestnet Asset Management Inc. boosted its holdings in shares of Zimmer Biomet by 26.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider’s stock worth $35,800,000 after buying an additional 66,114 shares during the last quarter. Keybank National Association OH raised its stake in Zimmer Biomet by 61.2% in the 1st quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider’s stock valued at $1,620,000 after acquiring an additional 5,434 shares during the period. Kingswood Wealth Advisors LLC raised its stake in Zimmer Biomet by 20.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider’s stock valued at $295,000 after acquiring an additional 435 shares during the period. Finally, Stifel Financial Corp raised its stake in Zimmer Biomet by 10.8% in the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider’s stock valued at $10,144,000 after acquiring an additional 9,341 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Down 0.9%

Shares of ZBH opened at $91.21 on Thursday. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The firm has a market capitalization of $18.05 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 2.15 and a beta of 0.68. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $93.10 and its 200 day simple moving average is $99.95.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.94 earnings per share. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet’s payout ratio is 21.24%.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the insider owned 20,424 shares of the company’s stock, valued at approximately $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ZBH. Canaccord Genuity Group cut their price objective on Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a report on Monday, May 12th. Royal Bank Of Canada dropped their price objective on Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group decreased their target price on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Roth Capital upgraded Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $135.00 price objective for the company in a report on Tuesday, July 15th. Finally, BTIG Research reissued a “buy” rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average target price of $111.39.

Zimmer Biomet Company 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.