A. D. Beadell Investment Counsel Inc. Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

A. D. Beadell Investment Counsel Inc. trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 35.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,625 shares of the medical equipment provider’s stock after selling 2,000 shares during the period. A. D. Beadell Investment Counsel Inc.’s holdings in Zimmer Biomet were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cutler Group LLC CA purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at about $25,000. Clear Street Markets LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $27,000. Orion Capital Management LLC raised its position in Zimmer Biomet by 234.7% in the 1st quarter. Orion Capital Management LLC now owns 251 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Zimmer Biomet during the 1st quarter worth $35,000. Finally, CoreCap Advisors LLC purchased a new position in Zimmer Biomet during the 4th quarter worth $44,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Insiders Place Their Bets

In other Zimmer Biomet news, Director Arthur J. Higgins bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $115.61 per share, with a total value of $115,610.00. Following the transaction, the director now owns 3,400 shares in the company, valued at $393,074. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Michael W. Michelson bought 1,300 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was bought at an average price of $115.50 per share, with a total value of $150,150.00. Following the completion of the transaction, the director now directly owns 3,385 shares of the company’s stock, valued at $390,967.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arthur J. Higgins purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was bought at an average price of $115.61 per share, with a total value of $115,610.00. Following the acquisition, the director now owns 3,400 shares in the company, valued at $393,074. The disclosure for this purchase can be found here. Insiders bought 5,300 shares of company stock worth $619,090 over the last three months. 0.95% of the stock is owned by insiders.

Zimmer Biomet Trading Down 0.5 %

Shares of Zimmer Biomet stock traded down $0.58 during trading hours on Tuesday, reaching $121.45. 280,559 shares of the company’s stock were exchanged, compared to its average volume of 1,462,369. The company has a fifty day moving average of $127.78 and a 200-day moving average of $131.56. The company has a current ratio of 1.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.60 and a 52-week high of $149.25. The firm has a market capitalization of $25.38 billion, a price-to-earnings ratio of 50.64, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.83 billion. Zimmer Biomet had a net margin of 7.03% and a return on equity of 12.36%. Zimmer Biomet’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 earnings per share. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.51 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, September 28th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 39.83%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ZBH shares. UBS Group boosted their target price on Zimmer Biomet from $116.00 to $125.00 in a report on Wednesday, August 2nd. BTIG Research upgraded shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $139.00 target price for the company in a research note on Monday, August 28th. Oppenheimer reiterated an “outperform” rating and set a $157.00 price target on shares of Zimmer Biomet in a research note on Wednesday, August 2nd. TheStreet downgraded shares of Zimmer Biomet from a “b-” rating to a “c+” rating in a research report on Friday, August 25th. Finally, Truist Financial dropped their target price on Zimmer Biomet from $153.00 to $148.00 and set a “hold” rating on the stock in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $145.16.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.