Legacy Capital Wealth Partners LLC Purchases Shares of 4,318 Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Legacy Capital Wealth Partners LLC bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,318 shares of the medical equipment provider's stock, valued at approximately $456,000.

A number of other institutional investors also recently modified their holdings of ZBH. Exchange Traded Concepts LLC grew its holdings in Zimmer Biomet by 3,043.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,603 shares of the medical equipment provider's stock worth $173,000 after buying an additional 1,552 shares in the last quarter. NBC Securities Inc. bought a new stake in Zimmer Biomet during the third quarter worth $105,000. Trust Co. of Vermont grew its holdings in Zimmer Biomet by 29.5% during the third quarter. Trust Co. of Vermont now owns 2,487 shares of the medical equipment provider's stock worth $268,000 after buying an additional 566 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Zimmer Biomet by 1.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,230 shares of the medical equipment provider's stock worth $2,400,000 after buying an additional 337 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Zimmer Biomet by 165.3% during the third quarter. Blue Trust Inc. now owns 1,719 shares of the medical equipment provider's stock worth $187,000 after buying an additional 1,071 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. JMP Securities restated a "market outperform" rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 7th. Wells Fargo & Company upped their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upgraded Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Finally, Truist Financial restated a "hold" rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $124.15.

Zimmer Biomet Price Performance

ZBH traded up $1.13 during trading on Wednesday, reaching $103.31. 2,236,659 shares of the company were exchanged, compared to its average volume of 1,916,930. The company's 50-day moving average is $105.96 and its two-hundred day moving average is $107.51. The company has a market cap of $20.57 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the previous year, the business posted $2.20 EPS. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. Zimmer Biomet's dividend payout ratio (DPR) is 21.57%.

About Zimmer Biomet

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.