Outfitter Financial LLC Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Outfitter Financial LLC lifted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,730 shares of the medical equipment provider’s stock after buying an additional 515 shares during the quarter. Outfitter Financial LLC’s holdings in Zimmer Biomet were worth $622,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth about $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Zimmer Biomet during the fourth quarter worth approximately $30,000. Crewe Advisors LLC purchased a new position in Zimmer Biomet during the first quarter worth approximately $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet during the second quarter worth approximately $33,000. Finally, J.Safra Asset Management Corp boosted its position in Zimmer Biomet by 712.1% during the first 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 in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ZBH shares. The Goldman Sachs Group started coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target on the stock. Barclays reduced their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Argus raised 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. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $115.00 in a report on Monday, July 1st. Finally, Raymond James reduced their target price on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $126.41.

Zimmer Biomet Trading Up 0.7 %

Shares of ZBH traded up $0.79 during midday trading on Friday, hitting $115.46. 1,584,916 shares of the stock were exchanged, compared to its average volume of 1,462,656. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90. The stock has a fifty day simple moving average of $109.76 and a 200 day simple moving average of $117.37. The firm has a market cap of $23.75 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.04 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.