Financial Solutions Advisory Group Inc. Takes Position in Zimmer Biomet Holdings, Inc. $ZBH

Financial Solutions Advisory Group Inc. bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,578 shares of the medical equipment provider’s stock, valued at approximately $866,000.

A number of other hedge funds have also made changes to their positions in the company. Dodge & Cox boosted its position in Zimmer Biomet by 1.3% in the fourth quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider’s stock valued at $2,113,736,000 after buying an additional 290,676 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Zimmer Biomet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider’s stock worth $2,111,658,000 after buying an additional 192,517 shares in the last quarter. State Street Corp raised its stake in shares of Zimmer Biomet by 2.3% in the fourth quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider’s stock valued at $795,814,000 after acquiring an additional 195,214 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock valued at $601,204,000 after acquiring an additional 2,017,857 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 5,233,834 shares of the medical equipment provider’s stock worth $468,821,000 after acquiring an additional 36,611 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 equities research analysts recently commented on ZBH shares. Robert W. Baird set a $92.00 price target on Zimmer Biomet in a research report on Wednesday, April 29th. UBS Group initiated coverage on Zimmer Biomet in a research report on Tuesday. They issued a “buy” rating and a $115.00 price objective for the company. Citigroup reduced their price objective on Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. Weiss Ratings cut Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Finally, Citizens Jmp cut their price target on Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating for the company in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average target price of $102.00.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of Zimmer Biomet stock in a transaction on Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.28% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $94.20 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $88.84 and a 200 day simple moving average of $89.86. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $79.12 and a fifty-two week high of $108.29. The firm has a market cap of $18.22 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.77 and a beta of 0.46.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, June 25th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, June 25th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 24.94%.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.