GAMMA Investing LLC Acquires 927 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

GAMMA Investing LLC increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 67.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,298 shares of the medical equipment provider’s stock after buying an additional 927 shares during the period. GAMMA Investing LLC’s holdings in Zimmer Biomet were worth $243,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. raised its holdings in shares of Zimmer Biomet by 17.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,404 shares of the medical equipment provider’s stock worth $260,000 after purchasing an additional 358 shares during the period. Wilmington Savings Fund Society FSB increased its position in Zimmer Biomet by 7.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 6,196 shares of the medical equipment provider’s stock worth $669,000 after buying an additional 442 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Zimmer Biomet by 26.9% in the third quarter. Sanctuary Advisors LLC now owns 17,825 shares of the medical equipment provider’s stock valued at $1,965,000 after buying an additional 3,776 shares during the period. Toronto Dominion Bank lifted its position in shares of Zimmer Biomet by 14.5% during the 3rd quarter. Toronto Dominion Bank now owns 68,747 shares of the medical equipment provider’s stock valued at $7,421,000 after buying an additional 8,710 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Zimmer Biomet during the 3rd quarter worth $150,000. Institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ZBH shares. Wells Fargo & Company upped their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Truist Financial lifted their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. BTIG Research dropped their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Canaccord Genuity Group reduced their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada increased their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.33.

Zimmer Biomet Trading Down 0.3 %

Shares of ZBH stock opened at $103.22 on Wednesday. The business has a 50-day moving average price of $108.36 and a two-hundred day moving average price of $108.14. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a market cap of $20.55 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.93%. Zimmer Biomet’s payout ratio is 18.25%.

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.