Wealth Enhancement Advisory Services LLC Increases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,845 shares of the medical equipment provider’s stock after purchasing an additional 1,173 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Zimmer Biomet were worth $1,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in Zimmer Biomet by 600.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,572 shares of the medical equipment provider’s stock worth $386,000 after acquiring an additional 3,062 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its stake in shares of Zimmer Biomet by 7.7% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 6,054 shares of the medical equipment provider’s stock worth $657,000 after purchasing an additional 434 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Zimmer Biomet by 87.3% during the 2nd quarter. Plato Investment Management Ltd now owns 1,742 shares of the medical equipment provider’s stock valued at $189,000 after purchasing an additional 812 shares during the period. Dimensional Fund Advisors LP raised its position in Zimmer Biomet by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,810,770 shares of the medical equipment provider’s stock valued at $196,523,000 after purchasing an additional 154,447 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in Zimmer Biomet by 60.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 2,642 shares of the medical equipment provider’s stock worth $287,000 after buying an additional 995 shares during the period. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZBH. Evercore ISI reduced their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Truist Financial boosted their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Barclays reduced their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Finally, BTIG Research lowered their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.33.

Zimmer Biomet Trading Down 0.7 %

Shares of NYSE ZBH opened at $104.71 on Wednesday. The firm’s 50 day moving average price is $107.88 and its 200-day moving average price is $107.97. Zimmer Biomet Holdings, Inc. has a 52-week low of $100.67 and a 52-week high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The company has a market cap of $20.85 billion, a PE ratio of 19.91, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm posted $1.65 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

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.