Brookstone Capital Management Has $870,000 Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brookstone Capital Management trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,594 shares of the medical equipment provider’s stock after selling 122 shares during the period. Brookstone Capital Management’s holdings in Zimmer Biomet were worth $870,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ZBH. O Shaughnessy Asset Management LLC increased its stake in Zimmer Biomet by 19.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,044 shares of the medical equipment provider’s stock valued at $1,352,000 after buying an additional 1,923 shares during the period. Tower Research Capital LLC TRC boosted its position in Zimmer Biomet by 8.4% during the third quarter. Tower Research Capital LLC TRC now owns 8,558 shares of the medical equipment provider’s stock valued at $960,000 after purchasing an additional 662 shares during the last quarter. Ancora Advisors LLC grew its stake in Zimmer Biomet by 63.3% in the third quarter. Ancora Advisors LLC now owns 570 shares of the medical equipment provider’s stock valued at $64,000 after purchasing an additional 221 shares in the last quarter. Gotham Asset Management LLC raised its stake in shares of Zimmer Biomet by 1.6% during the 3rd quarter. Gotham Asset Management LLC now owns 44,105 shares of the medical equipment provider’s stock worth $4,949,000 after purchasing an additional 706 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Zimmer Biomet by 91.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 119,990 shares of the medical equipment provider’s stock valued at $13,465,000 after buying an additional 57,377 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ZBH. The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective for the company. Barclays reduced their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Evercore ISI raised their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Oppenheimer boosted their price objective on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Citigroup boosted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $133.75.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $108.53 on Friday. The stock’s fifty day moving average price is $115.29 and its two-hundred day moving average price is $121.20. The firm has a market cap of $22.33 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 1.95 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $147.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The business’s revenue for the quarter 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 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. Zimmer Biomet’s payout ratio is presently 20.78%.

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.