Providence Capital Advisors LLC Acquires 2,800 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Providence Capital Advisors LLC grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,600 shares of the medical equipment provider’s stock after buying an additional 2,800 shares during the quarter. Providence Capital Advisors LLC’s holdings in Zimmer Biomet were worth $5,873,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ZBH. Roman Butler Fullerton & Co. bought a new stake in Zimmer Biomet during the fourth quarter worth about $473,000. Geode Capital Management LLC raised its stake in shares of Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after purchasing an additional 125,852 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Zimmer Biomet by 48.4% in the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after buying an additional 8,709 shares during the last quarter. KLCM Advisors Inc. bought a new position in shares of Zimmer Biomet in the fourth quarter valued at $7,825,000. Finally, Peddock Capital Advisors LLC acquired a new position in Zimmer Biomet during the fourth quarter worth $654,000. Institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZBH. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Truist Financial reaffirmed a “hold” rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Barclays lowered their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada decreased their target price on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $124.15.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.95% of the company’s stock.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $112.20 on Friday. The firm has a 50 day moving average of $107.13 and a 200-day moving average of $106.96. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $22.34 billion, a PE ratio of 25.21, a PEG ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $2.20 earnings per share. On average, equities 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 yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

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.