Proficio Capital Partners LLC Takes $55,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Proficio Capital Partners LLC purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 54,928 shares of the medical equipment provider’s stock, valued at approximately $55,000.

Other hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Zimmer Biomet in the 4th quarter valued at $25,000. Dunhill Financial LLC boosted its stake in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet during the third quarter valued at about $28,000. Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet in the 3rd quarter valued at approximately $35,000. Finally, Kentucky Trust Co purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Stifel Nicolaus lifted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Raymond James lowered their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Truist Financial reissued a “hold” rating and issued a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $107.63 on Friday. The company has a 50-day moving average of $105.72 and a two-hundred day moving average of $107.06. The stock has a market cap of $21.43 billion, a P/E ratio of 24.19, a PEG ratio of 1.95 and a beta of 1.04. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period last year, the business posted $2.20 EPS. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet 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.