Financial Counselors Inc. Boosts Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Financial Counselors Inc. boosted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,371 shares of the medical equipment provider’s stock after buying an additional 365 shares during the quarter. Financial Counselors Inc.’s holdings in Zimmer Biomet were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Waterfront Wealth Inc. raised its stake in Zimmer Biomet by 8.6% in the 2nd quarter. Waterfront Wealth Inc. now owns 12,053 shares of the medical equipment provider’s stock valued at $1,308,000 after acquiring an additional 957 shares during the period. AM Squared Ltd bought a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $43,000. Essex Financial Services Inc. lifted its stake in shares of Zimmer Biomet by 65.7% during the 2nd quarter. Essex Financial Services Inc. now owns 2,644 shares of the medical equipment provider’s stock valued at $287,000 after buying an additional 1,048 shares in the last quarter. Fortress Wealth Group LLC boosted its holdings in Zimmer Biomet by 13.8% in the 2nd quarter. Fortress Wealth Group LLC now owns 3,490 shares of the medical equipment provider’s stock worth $384,000 after buying an additional 422 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Zimmer Biomet by 1,115.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,238 shares of the medical equipment provider’s stock valued at $555,000 after buying an additional 4,807 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial cut their price target on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Robert W. Baird reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $126.41.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $114.48 on Thursday. The firm has a market capitalization of $23.55 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 2.06 and a beta of 1.01. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The business’s 50-day moving average price is $110.19 and its 200-day moving average price is $117.16.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.82 earnings per share. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.84%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

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.