Federated Hermes Inc. Raises Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Federated Hermes Inc. raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 26.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 930 shares of the medical equipment provider’s stock after buying an additional 194 shares during the quarter. Federated Hermes Inc.’s holdings in Zimmer Biomet were worth $105,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC purchased a new stake in Zimmer Biomet in the 1st quarter valued at $269,000. Envestnet Asset Management Inc. grew its holdings in 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 valued at $35,800,000 after buying an additional 66,114 shares in the last quarter. Keybank National Association OH grew its holdings 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 buying an additional 5,434 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings 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 buying an additional 435 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Zimmer Biomet by 10.8% during the 4th quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider’s stock worth $10,144,000 after purchasing an additional 9,341 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

ZBH stock opened at $99.14 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm has a market capitalization of $19.64 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.28 and a beta of 0.68. The business’s 50-day moving average is $93.34 and its two-hundred day moving average is $99.65. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.09. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%. Zimmer Biomet’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 23.36%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider owned 20,424 shares of the company’s stock, valued at $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Zimmer Biomet from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. Canaccord Genuity Group lowered their price target on Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a report on Monday, May 12th. Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the stock a “buy” rating in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $111.44.

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.