Inlet Private Wealth LLC Makes New $2.66 Million Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Inlet Private Wealth LLC purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 25,165 shares of the medical equipment provider’s stock, valued at approximately $2,658,000.

A number of other institutional investors and hedge funds have also modified their holdings of ZBH. Dunhill Financial LLC lifted its position in Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth about $28,000. Bangor Savings Bank bought a new stake in Zimmer Biomet during the 3rd quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new stake in Zimmer Biomet in the 3rd quarter valued at approximately $35,000. Finally, Quarry LP bought a new position in Zimmer Biomet in the 2nd quarter worth approximately $53,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Down 1.1 %

Shares of NYSE ZBH opened at $109.36 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $100.67 and a 12-month high of $133.90. The firm’s 50-day simple moving average is $107.94 and its 200 day simple moving average is $108.26. 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 company has a market cap of $21.77 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02.

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

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were paid a $0.24 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZBH. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. 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 boosted their price target on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Oppenheimer cut their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.11.

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.