Delap Wealth Advisory LLC Buys New Shares in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Delap Wealth Advisory LLC bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,610 shares of the medical equipment provider’s stock, valued at approximately $212,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Zimmer Biomet during the fourth quarter valued at about $266,896,000. Van ECK Associates Corp grew its stake in shares of Zimmer Biomet by 23.7% during the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after buying an additional 543,344 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after buying an additional 484,151 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Zimmer Biomet by 16.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock valued at $335,895,000 after buying an additional 386,019 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Zimmer Biomet by 105.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 457,532 shares of the medical equipment provider’s stock valued at $60,385,000 after buying an additional 235,014 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZBH. Barclays reduced their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Argus upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Tuesday, May 21st. Oppenheimer increased their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Citigroup dropped their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $115.00 in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $129.53.

Zimmer Biomet Stock Up 0.7 %

Shares of ZBH stock traded up $0.82 during trading hours on Friday, hitting $111.46. 547,042 shares of the company’s stock traded hands, compared to its average volume of 1,488,176. The stock’s fifty day simple moving average is $110.62 and its two-hundred day simple moving average is $119.62. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $142.54. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.99 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business earned $1.89 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is 20.78%.

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.