Cornerstone Wealth Group LLC Buys Shares of 3,218 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cornerstone Wealth Group LLC bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,218 shares of the medical equipment provider’s stock, valued at approximately $425,000.

Several other hedge funds have also recently bought and sold shares of the company. PFG Advisors increased its holdings in Zimmer Biomet by 4.6% in the 4th quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after buying an additional 84 shares during the period. Quent Capital LLC boosted its stake in shares of Zimmer Biomet by 21.6% in the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 92 shares in the last quarter. Chicago Partners Investment Group LLC boosted 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 purchasing an additional 92 shares in the last quarter. First Bancorp Inc ME boosted 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 purchasing an additional 100 shares in the last quarter. Finally, Ballentine Partners LLC boosted 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 purchasing an additional 100 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $108.53 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $147.50. The firm has a 50 day moving average of $115.29 and a 200-day moving average of $121.22. The company has a market cap of $22.33 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZBH. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price target on the stock. Citigroup raised their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Barclays reduced their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Oppenheimer raised their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $133.75.

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.