Matrix Asset Advisors Inc. NY Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Matrix Asset Advisors Inc. NY boosted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 45.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,096 shares of the medical equipment provider’s stock after buying an additional 40,869 shares during the quarter. Zimmer Biomet makes up about 1.6% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 27th largest position. Matrix Asset Advisors Inc. NY owned 0.07% of Zimmer Biomet worth $14,837,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ZBH. Brighton Jones LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at $204,000. Principal Securities Inc. boosted its stake in Zimmer Biomet by 23.7% in the fourth quarter. Principal Securities Inc. now owns 2,133 shares of the medical equipment provider’s stock valued at $225,000 after acquiring an additional 409 shares in the last quarter. Allworth Financial LP boosted its stake in Zimmer Biomet by 66.2% in the fourth quarter. Allworth Financial LP now owns 1,843 shares of the medical equipment provider’s stock valued at $202,000 after acquiring an additional 734 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at $104,000. Finally, D.A. Davidson & CO. boosted its stake in Zimmer Biomet by 36.4% in the fourth quarter. D.A. Davidson & CO. now owns 11,907 shares of the medical equipment provider’s stock valued at $1,258,000 after acquiring an additional 3,175 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $91.22 on Friday. The stock has a fifty day moving average price of $95.28 and a 200 day moving average price of $102.80. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The stock has a market cap of $18.05 billion, a PE ratio of 20.18, a P/E/G ratio of 2.11 and a beta of 0.72. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business posted $1.94 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 1.05%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 21.24%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider now directly owns 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

ZBH has been the subject of several research analyst reports. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a research note on Tuesday, May 6th. Robert W. Baird decreased their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Morgan Stanley decreased their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a research note on Monday, May 12th. Finally, Royal Bank Of Canada decreased their target price on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $111.53.

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.