Valeo Financial Advisors LLC Lowers Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Valeo Financial Advisors LLC lowered its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,238 shares of the medical equipment provider’s stock after selling 1,124 shares during the period. Valeo Financial Advisors LLC’s holdings in Zimmer Biomet were worth $2,803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Exchange Capital Management Inc. raised its holdings in shares of Zimmer Biomet by 24.5% in the 1st quarter. Exchange Capital Management Inc. now owns 28,571 shares of the medical equipment provider’s stock valued at $3,771,000 after acquiring an additional 5,614 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Zimmer Biomet by 4.4% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 10,268 shares of the medical equipment provider’s stock valued at $1,355,000 after purchasing an additional 430 shares during the last quarter. AlphaMark Advisors LLC increased its position in shares of Zimmer Biomet by 1,880.0% during the 1st quarter. AlphaMark Advisors LLC now owns 990 shares of the medical equipment provider’s stock valued at $131,000 after purchasing an additional 940 shares during the last quarter. AMI Investment Management Inc. bought a new position in shares of Zimmer Biomet during the 1st quarter valued at about $210,000. Finally, Cornerstone Wealth Group LLC bought a new position in shares of Zimmer Biomet during the 1st quarter valued at about $425,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $106.57 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $144.13. The firm has a market capitalization of $21.92 billion, a P/E ratio of 23.07, a PEG ratio of 1.91 and a beta of 1.01. The business has a fifty day moving average of $114.69 and a 200 day moving average of $121.05.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Zimmer Biomet’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZBH. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $115.00 in a research report on Monday. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Tuesday, May 21st. Barclays reduced their price target on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Finally, Oppenheimer raised their price target on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $131.76.

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.