Certified Advisory Corp Grows Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Certified Advisory Corp increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,095 shares of the medical equipment provider’s stock after purchasing an additional 200 shares during the quarter. Certified Advisory Corp’s holdings in Zimmer Biomet were worth $227,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet during the 4th quarter valued at about $30,000. Crewe Advisors LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth approximately $33,000. Finally, J.Safra Asset Management Corp boosted its holdings in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 1.1 %

Shares of NYSE:ZBH opened at $107.57 on Tuesday. The firm has a market capitalization of $22.13 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The firm’s 50-day moving average is $109.86 and its two-hundred day moving average is $115.25.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.89%. Zimmer Biomet’s payout ratio is 20.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ZBH shares. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective on the stock. Robert W. Baird reduced their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Truist Financial reissued a “hold” rating and issued a $112.00 price objective (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Barclays cut 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 report on Friday, May 31st. Finally, Oppenheimer decreased their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.17.

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.