iA Global Asset Management Inc. Boosts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

iA Global Asset Management Inc. increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,241 shares of the medical equipment provider’s stock after purchasing an additional 823 shares during the quarter. iA Global Asset Management Inc.’s holdings in Zimmer Biomet were worth $1,111,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ZBH shares. Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating on the stock in a report on Tuesday, August 20th. UBS Group dropped their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Evercore ISI reduced their price target on shares of Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group assumed coverage on Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $126.41.

Zimmer Biomet Stock Up 0.7 %

Shares of NYSE ZBH opened at $115.47 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $133.90. The business’s 50 day moving average is $109.61 and its two-hundred day moving average is $117.44. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.04 and a beta of 1.01. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a 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.