Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3,043.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,603 shares of the medical equipment provider’s stock after purchasing an additional 1,552 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Zimmer Biomet were worth $173,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ZBH. Wellington Management Group LLP acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $1,335,000. B. Riley Wealth Advisors Inc. grew its position in shares of Zimmer Biomet by 4.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,414 shares of the medical equipment provider’s stock valued at $416,000 after acquiring an additional 141 shares during the period. Ballentine Partners LLC raised its holdings in Zimmer Biomet by 2.6% in the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 100 shares during the period. Global Assets Advisory LLC purchased a new position in Zimmer Biomet during the first quarter worth approximately $1,712,000. Finally, First Bancorp Inc ME grew its holdings in Zimmer Biomet by 5.3% in the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $105.20 on Tuesday. The firm’s 50-day moving average is $108.07 and its two-hundred day moving average is $112.03. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month 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 company has a market capitalization of $21.64 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data 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. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZBH. Robert W. Baird decreased their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Truist Financial reiterated a “hold” rating and issued a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Oppenheimer reduced their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. Finally, Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $115.00 in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target 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.