Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Purchased by Thomasville National Bank

Thomasville National Bank raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,112 shares of the medical equipment provider’s stock after buying an additional 5,006 shares during the quarter. Thomasville National Bank’s holdings in Zimmer Biomet were worth $11,497,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ZBH. Kestra Advisory Services LLC lifted its stake in shares of Zimmer Biomet by 15.3% during the third quarter. Kestra Advisory Services LLC now owns 6,188 shares of the medical equipment provider’s stock valued at $694,000 after buying an additional 820 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Zimmer Biomet by 7.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,804 shares of the medical equipment provider’s stock worth $2,447,000 after purchasing an additional 1,570 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Zimmer Biomet during the third quarter worth $475,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Zimmer Biomet in the third quarter valued at $1,743,000. Finally, Envestnet Asset Management Inc. increased its stake in Zimmer Biomet by 52.6% in the third quarter. Envestnet Asset Management Inc. now owns 287,267 shares of the medical equipment provider’s stock valued at $32,237,000 after purchasing an additional 98,977 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded down $0.45 during trading hours on Thursday, reaching $106.24. The company’s stock had a trading volume of 1,887,620 shares, compared to its average volume of 1,462,799. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $147.50. The company’s 50 day simple moving average is $116.92 and its 200 day simple moving average is $121.54. The stock has a market cap of $21.86 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Oppenheimer boosted their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. The Goldman Sachs Group started coverage on Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective for the company. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Tuesday, May 21st. Truist Financial cut their price objective on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Citigroup boosted their target price on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $133.75.

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.