Legacy Wealth Asset Management LLC Buys 1,759 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Legacy Wealth Asset Management LLC lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 60.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,649 shares of the medical equipment provider’s stock after purchasing an additional 1,759 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Zimmer Biomet were worth $491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ZBH. Equity Investment Corp acquired a new stake in Zimmer Biomet during the 3rd quarter worth $70,104,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of Zimmer Biomet by 49.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after purchasing an additional 577,320 shares during the period. Magnetar Financial LLC grew its position in shares of Zimmer Biomet by 58.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after purchasing an additional 484,816 shares during the period. Van ECK Associates Corp lifted its stake in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Zimmer Biomet during the third quarter worth $41,588,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $109.65 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $21.83 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $100.67 and a twelve month high of $133.90. The company has a 50-day simple moving average of $107.81 and a two-hundred day simple moving average of $107.97.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. Zimmer Biomet’s payout ratio is 18.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ZBH. Barclays reduced their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research note on Thursday, December 12th. Truist Financial lifted their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Raymond James cut their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. BTIG Research decreased their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Oppenheimer dropped their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.33.

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.