Concord Wealth Partners Raises Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Concord Wealth Partners lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,420 shares of the medical equipment provider’s stock after buying an additional 130 shares during the quarter. Concord Wealth Partners’ holdings in Zimmer Biomet were worth $173,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Naples Money Management LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $35,000. Activest Wealth Management boosted its position in shares of Zimmer Biomet by 410.4% in the 4th 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. Peoples Bank KS purchased a new stake in shares of Zimmer Biomet in the 3rd quarter worth about $48,000. Blue Trust Inc. boosted its position in shares of Zimmer Biomet by 48.4% in the 4th 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. Finally, Quent Capital LLC boosted its position in shares of Zimmer Biomet by 21.6% in the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.

Zimmer Biomet Stock Down 0.9 %

Shares of Zimmer Biomet stock opened at $118.46 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. The company has a market capitalization of $24.34 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 2.20 and a beta of 1.03. The business has a 50-day moving average of $125.45 and a two-hundred day moving average of $119.90. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $147.50.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (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 analysts’ expectations of $1.87 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.08 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. Zimmer Biomet’s dividend payout ratio is currently 19.63%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ZBH. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 9th. Truist Financial raised their price target on Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a report on Friday, February 9th. StockNews.com lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Evercore ISI raised their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Barclays raised their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $139.39.

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.