Diametric Capital LP Acquires Shares of 3,604 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Diametric Capital LP bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,604 shares of the medical equipment provider’s stock, valued at approximately $381,000.

A number of other hedge funds also recently modified their holdings of ZBH. Stonebridge Financial Group LLC acquired a new stake in Zimmer Biomet during the fourth quarter worth about $25,000. Dunhill Financial LLC boosted its position in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Kentucky Trust Co bought a new position in Zimmer Biomet in the fourth quarter valued at approximately $39,000. OFI Invest Asset Management acquired a new position in Zimmer Biomet during the fourth quarter valued at approximately $40,000. Finally, SRS Capital Advisors Inc. lifted its stake in Zimmer Biomet by 146.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock worth $51,000 after purchasing an additional 285 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 0.8 %

Shares of NYSE:ZBH opened at $112.32 on Wednesday. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $130.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The business’s 50-day moving average is $107.29 and its 200-day moving average is $107.14. The company has a market capitalization of $22.36 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period last year, the firm earned $2.20 EPS. Equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 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, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZBH. Truist Financial reiterated a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Raymond James reduced their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Royal Bank of Canada lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.15.

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.