AMI Investment Management Inc. Acquires New Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

AMI Investment Management Inc. bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,589 shares of the medical equipment provider’s stock, valued at approximately $210,000.

Several other hedge funds also recently bought and sold shares of ZBH. Norges Bank bought a new stake in shares of Zimmer Biomet during the fourth quarter worth $266,896,000. American Century Companies Inc. increased its holdings in Zimmer Biomet by 21.2% during the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after purchasing an additional 852,186 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Zimmer Biomet by 23.7% in the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after purchasing an additional 543,344 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Zimmer Biomet in the third quarter valued at about $57,972,000. Finally, Primecap Management Co. CA boosted its position 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 worth $619,037,000 after buying an additional 484,151 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of ZBH stock traded up $0.15 during trading hours on Friday, reaching $108.53. The company’s stock had a trading volume of 2,774,589 shares, compared to its average volume of 1,736,776. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The firm’s 50 day simple moving average is $115.29 and its 200-day simple moving average is $121.22. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $22.33 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared 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. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Ratings Changes

Several equities research analysts have commented on ZBH shares. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Truist Financial reduced their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Citigroup raised their price target on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Barclays dropped 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. Finally, The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $133.75.

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.