Ironwood Investment Counsel LLC Invests $212,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Ironwood Investment Counsel LLC purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,603 shares of the medical equipment provider’s stock, valued at approximately $212,000.

A number of other large investors have also recently bought and sold shares of ZBH. International Assets Investment Management LLC raised its holdings in shares of Zimmer Biomet by 11,244.9% during the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock valued at $8,146,000 after buying an additional 66,345 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Zimmer Biomet by 37.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock worth $18,981,000 after buying an additional 42,539 shares during the last quarter. TD Asset Management Inc boosted its stake in Zimmer Biomet by 10.1% in the 4th quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after purchasing an additional 15,552 shares during the period. Bank of Nova Scotia boosted its stake in Zimmer Biomet by 499.0% in the 4th quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock worth $16,397,000 after purchasing an additional 112,237 shares during the period. Finally, Premier Path Wealth Partners LLC acquired a new position in Zimmer Biomet in the 4th quarter worth approximately $1,093,000. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ZBH shares. Evercore ISI decreased their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Truist Financial decreased their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Tuesday, May 21st. Oppenheimer lifted their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $129.53.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded down $0.16 on Monday, hitting $110.34. 1,355,681 shares of the company were exchanged, compared to its average volume of 1,501,812. The company’s 50 day moving average price is $111.24 and its two-hundred day moving average price is $119.82. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $143.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. The firm has a market capitalization of $22.70 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.99 and a beta of 1.01.

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

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be paid a $0.24 dividend. 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 0.87%. Zimmer Biomet’s payout ratio is currently 20.78%.

Zimmer Biomet Company 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.