Providence Capital Advisors LLC Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Providence Capital Advisors LLC increased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 540,000.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,609 shares of the medical equipment provider’s stock after acquiring an additional 48,600 shares during the period. Providence Capital Advisors LLC’s holdings in Zimmer Biomet were worth $5,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its stake in shares of Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares during the last quarter. North Star Investment Management Corp. lifted its stake in shares of Zimmer Biomet by 16.6% in the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares during the last quarter. First Bancorp Inc ME lifted its stake in shares of Zimmer Biomet by 5.3% in the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after acquiring an additional 100 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Zimmer Biomet by 2.6% in the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 100 shares during the last quarter. Finally, Romano Brothers AND Company lifted its stake in shares of Zimmer Biomet by 1.1% in the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of recent analyst reports. Raymond James lowered their price target on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Truist Financial reaffirmed a “hold” rating and set a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Evercore ISI reaffirmed an “in-line” rating and set a $113.00 price target on shares of Zimmer Biomet in a research report on Thursday, September 5th. TD Cowen lowered their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Morgan Stanley decreased their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Trading Up 1.1 %

Shares of NYSE ZBH opened at $107.57 on Tuesday. The business’s 50 day moving average is $109.86 and its two-hundred day moving average is $115.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $133.90. The stock has a market capitalization of $22.13 billion, a P/E ratio of 23.28, a PEG ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is 20.78%.

About Zimmer Biomet

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.