EverSource Wealth Advisors LLC Grows Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

EverSource Wealth Advisors LLC raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 30.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 875 shares of the medical equipment provider’s stock after purchasing an additional 202 shares during the period. EverSource Wealth Advisors LLC’s holdings in Zimmer Biomet were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ZBH. OLD Point Trust & Financial Services N A acquired a new position in Zimmer Biomet during the fourth quarter worth about $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Zimmer Biomet in the fourth quarter valued at approximately $30,000. Crewe Advisors LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $31,000. Naples Money Management LLC acquired a new stake in Zimmer Biomet during the 4th quarter worth about $35,000. Finally, J.Safra Asset Management Corp increased its stake in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

ZBH stock traded up $2.91 during midday trading on Tuesday, hitting $109.95. The company’s stock had a trading volume of 819,797 shares, compared to its average volume of 1,483,333. The firm has a market capitalization of $22.62 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The company has a 50 day moving average of $109.56 and a two-hundred day moving average of $118.97. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th were given a $0.24 dividend. The ex-dividend date was Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is presently 20.78%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZBH. Piper Sandler downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $115.00 in a research report on Monday, July 1st. The Goldman Sachs Group assumed coverage on Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price target on the stock. Evercore ISI dropped their price target on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Truist Financial reduced their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Finally, Barclays cut 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $129.81.

Zimmer Biomet 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.