Optimal Asset Management Inc. Grows Stake in Zimmer Biomet Holdings Inc (NYSE:ZBH)
Optimal Asset Management Inc. grew its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 204.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,019 shares of the medical equipment provider’s stock after purchasing an additional 10,081 shares during the period. Optimal Asset Management Inc.’s holdings in Zimmer Biomet were worth $1,518,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Procyon Private Wealth Partners LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at $25,000. Asset Dedication LLC grew its position in shares of Zimmer Biomet by 100.0% during the 1st quarter. Asset Dedication LLC now owns 250 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Key Financial Inc purchased a new position in shares of Zimmer Biomet during the 1st quarter valued at $27,000. Orion Portfolio Solutions LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at $32,000. Finally, American National Bank lifted its holdings in shares of Zimmer Biomet by 100.0% during the 1st quarter. American National Bank now owns 320 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 88.11% of the company’s stock.
A number of analysts have recently issued reports on ZBH shares. Deutsche Bank dropped their price objective on shares of Zimmer Biomet from $160.00 to $146.00 and set a “hold” rating for the company in a report on Tuesday, May 12th. Stifel Nicolaus lifted their price objective on shares of Zimmer Biomet from $111.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Wells Fargo & Co lifted their price objective on shares of Zimmer Biomet from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. BTIG Research reduced their price objective on Zimmer Biomet from $170.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Raymond James lifted their price target on Zimmer Biomet from $136.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $147.72.
Shares of NYSE ZBH traded down $0.89 during mid-day trading on Friday, hitting $114.41. 17,649 shares of the stock traded hands, compared to its average volume of 1,425,958. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.03 and a current ratio of 1.69. Zimmer Biomet Holdings Inc has a 52 week low of $74.37 and a 52 week high of $161.11. The company has a market cap of $24.40 billion, a price-to-earnings ratio of 63.70, a PEG ratio of 4.51 and a beta of 1.32. The stock has a fifty day moving average price of $124.70 and a 200-day moving average price of $130.53.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.17. Zimmer Biomet had a return on equity of 13.29% and a net margin of 4.84%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company posted $1.87 earnings per share. The firm’s revenue was down 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Zimmer Biomet Holdings Inc will post 3.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, June 26th. Zimmer Biomet’s payout ratio is 12.20%.
Zimmer Biomet Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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