3,540 Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Acquired by Eastern Bank

Eastern Bank bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 3rd quarter, Holdings Channel.com reports. The fund bought 3,540 shares of the medical equipment provider’s stock, valued at approximately $382,000.

Several other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in Zimmer Biomet during the 4th quarter worth $1,335,000. Global Assets Advisory LLC bought a new position in shares of Zimmer Biomet during the 1st quarter valued at about $1,712,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Zimmer Biomet by 22.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,346 shares of the medical equipment provider’s stock valued at $2,025,000 after purchasing an additional 2,820 shares during the period. AMF Tjanstepension AB bought a new stake in Zimmer Biomet during the 1st quarter worth approximately $30,300,000. Finally, Romano Brothers AND Company raised its holdings in Zimmer Biomet by 1.1% during the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock worth $1,256,000 after buying an additional 100 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $104.70 on Thursday. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a market cap of $21.54 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The business’s 50 day moving average price is $107.89 and its two-hundred day moving average price is $111.82. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Ratings Changes

ZBH has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Tuesday, September 17th. Wolfe Research assumed coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating for the company. Truist Financial restated a “hold” rating and issued a $112.00 price target (down from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Royal Bank of Canada decreased their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Citigroup cut their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $123.94.

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.