AMI Investment Management Inc. Acquires Shares of 1,589 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

AMI Investment Management Inc. bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,589 shares of the medical equipment provider’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PFG Advisors lifted its stake in Zimmer Biomet by 4.6% in the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock worth $231,000 after acquiring an additional 84 shares during the period. Quent Capital LLC boosted its stake in shares of Zimmer Biomet by 21.6% during the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 92 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Zimmer Biomet by 3.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after buying an additional 92 shares during the period. First Bancorp Inc ME raised its stake in Zimmer Biomet by 5.3% in the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after buying an additional 100 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Zimmer Biomet by 2.6% in the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 100 shares during the period. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Up 0.1 %

ZBH traded up $0.15 during trading on Friday, hitting $108.53. 2,774,589 shares of the company’s stock traded hands, compared to its average volume of 1,736,776. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.95 and a beta of 1.02. The company’s 50 day simple moving average is $115.29 and its two-hundred day simple moving average is $121.22. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $147.50. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. Zimmer Biomet’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZBH. Evercore ISI increased their target price 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. Truist Financial decreased their price objective on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Oppenheimer boosted their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Barclays decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Finally, The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $133.75.

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.