Providence Capital Advisors LLC Has $5.87 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Providence Capital Advisors LLC increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,600 shares of the medical equipment provider’s stock after purchasing an additional 2,800 shares during the period. Providence Capital Advisors LLC’s holdings in Zimmer Biomet were worth $5,873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roman Butler Fullerton & Co. acquired a new stake in Zimmer Biomet in the 4th quarter valued at $473,000. Geode Capital Management LLC grew its holdings in shares of Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after purchasing an additional 125,852 shares during the last quarter. M&T Bank Corp increased its position in shares of Zimmer Biomet by 48.4% during the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after purchasing an additional 8,709 shares in the last quarter. KLCM Advisors Inc. acquired a new position in Zimmer Biomet in the fourth quarter valued at about $7,825,000. Finally, Peddock Capital Advisors LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth approximately $654,000. Institutional investors own 88.89% of the company’s stock.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ZBH shares. Truist Financial restated a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Barclays reduced their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $112.20 on Friday. 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 12-month low of $97.69 and a 12-month high of $133.90. The firm has a fifty day moving average of $107.13 and a 200-day moving average of $106.96. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the company earned $2.20 earnings per share. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is 21.57%.

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.