Gries Financial LLC Invests $866,000 in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Gries Financial LLC purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,196 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 stock. R Squared Ltd acquired a new position in Zimmer Biomet in the 4th quarter worth about $63,000. CKW Financial Group grew its stake in shares of Zimmer Biomet by 11.7% in the 4th quarter. CKW Financial Group now owns 955 shares of the medical equipment provider's stock valued at $101,000 after buying an additional 100 shares in the last quarter. KBC Group NV increased its holdings in Zimmer Biomet by 15.7% in the fourth quarter. KBC Group NV now owns 29,264 shares of the medical equipment provider's stock worth $3,092,000 after buying an additional 3,977 shares during the last quarter. Blue Trust Inc. raised its position in Zimmer Biomet by 18.3% during the fourth quarter. Blue Trust Inc. now owns 2,033 shares of the medical equipment provider's stock valued at $219,000 after acquiring an additional 314 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at approximately $229,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised Zimmer Biomet from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a report on Wednesday. Barclays reduced their target price on Zimmer Biomet from $125.00 to $118.00 and set an "underweight" rating for the company in a report on Thursday, December 12th. Finally, Raymond James lowered their price target on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $124.11.

Zimmer Biomet Stock Performance

Shares of ZBH traded down $0.02 on Thursday, reaching $111.03. 605,766 shares of the stock traded hands, compared to its average volume of 1,725,949. The firm has a market cap of $22.10 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 1.88 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12 month low of $100.67 and a 12 month high of $133.90. The stock's 50-day moving average price is $107.91 and its 200-day moving average price is $108.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its 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. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business 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 of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.86%. Zimmer Biomet's dividend payout ratio is currently 18.25%.

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.