Harbor Advisory Corp MA Purchases New Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Harbor Advisory Corp MA acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,729 shares of the medical equipment provider’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Citizens Financial Group Inc. RI acquired a new stake in Zimmer Biomet during the 4th quarter worth approximately $200,000. Kovack Advisors Inc. increased its stake in shares of Zimmer Biomet by 14.5% in the fourth quarter. Kovack Advisors Inc. now owns 4,685 shares of the medical equipment provider’s stock valued at $570,000 after buying an additional 594 shares during the period. GAMMA Investing LLC bought a new position in Zimmer Biomet during the 4th quarter worth $65,000. Community Bank & Trust Waco Texas increased its position in Zimmer Biomet by 60.6% during the 4th quarter. Community Bank & Trust Waco Texas now owns 5,736 shares of the medical equipment provider’s stock valued at $698,000 after purchasing an additional 2,164 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in Zimmer Biomet by 3.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 123,822 shares of the medical equipment provider’s stock worth $15,069,000 after buying an additional 4,000 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on 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 completion of the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ZBH has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a report on Friday, February 23rd. Evercore ISI upped their price target on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Finally, Truist Financial raised their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Price Performance

Shares of ZBH stock traded up $1.97 during mid-day trading on Monday, hitting $121.32. The company had a trading volume of 208,804 shares, compared to its average volume of 1,433,846. The company has a market capitalization of $24.93 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.19 and a beta of 1.01. The stock’s 50 day moving average price is $125.98 and its 200-day moving average price is $119.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $149.25.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the company earned $1.88 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

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.