Exchange Capital Management Inc. Increases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Exchange Capital Management Inc. boosted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 24.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,571 shares of the medical equipment provider’s stock after buying an additional 5,614 shares during the quarter. Exchange Capital Management Inc.’s holdings in Zimmer Biomet were worth $3,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD Point Trust & Financial Services N A acquired a new position in shares of Zimmer Biomet in the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $30,000. Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $35,000. Activest Wealth Management grew its position in Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 275 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Zimmer Biomet by 48.4% during the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock worth $52,000 after buying an additional 153 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ZBH shares. Citigroup boosted their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $115.00 in a research report on Monday. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Tuesday, May 21st. Finally, Evercore ISI dropped their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $131.76.

Zimmer Biomet Stock Performance

NYSE:ZBH traded down $0.15 during midday trading on Tuesday, reaching $105.81. The stock had a trading volume of 546,354 shares, compared to its average volume of 1,502,129. The stock has a market cap of $21.77 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.95 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $144.80. The firm has a fifty day simple moving average of $115.29 and a two-hundred day simple moving average of $121.22. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 EPS. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Zimmer Biomet Company 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.