SVB Wealth LLC Invests $928,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

SVB Wealth LLC acquired a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,786 shares of the medical equipment provider’s stock, valued at approximately $928,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares during the period. Van ECK Associates Corp lifted its position in Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after purchasing an additional 218,688 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Zimmer Biomet by 49.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after purchasing an additional 577,320 shares during the period. Equity Investment Corp lifted its position in Zimmer Biomet by 57.2% during the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock valued at $107,855,000 after purchasing an additional 371,653 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Zimmer Biomet by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after purchasing an additional 4,388 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 0.9 %

ZBH stock opened at $105.26 on Tuesday. The stock has a market capitalization of $20.95 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.95 and a beta of 1.02. The firm has a 50-day simple moving average of $105.69 and a 200-day simple moving average of $107.32. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 0.91%. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

Analyst Ratings Changes

ZBH has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Barclays decreased their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada decreased their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Truist Financial reaffirmed a “hold” rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, Raymond James cut their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $124.15.

Zimmer Biomet 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.