New Wave Wealth Advisors LLC Acquires New Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

New Wave Wealth Advisors LLC bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,434 shares of the medical equipment provider's stock, valued at approximately $257,000.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock valued at $524,942,000 after acquiring an additional 125,852 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Zimmer Biomet by 48.4% in the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider's stock valued at $2,884,000 after purchasing an additional 8,709 shares during the last quarter. Peddock Capital Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth about $654,000. National Pension Service raised its holdings in Zimmer Biomet by 3.8% in the 3rd quarter. National Pension Service now owns 369,547 shares of the medical equipment provider's stock valued at $39,893,000 after buying an additional 13,612 shares during the period. Finally, River Global Investors LLP boosted its stake in Zimmer Biomet by 31.3% during the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider's stock worth $2,276,000 after buying an additional 5,030 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

ZBH traded down $0.39 on Tuesday, reaching $107.77. The company had a trading volume of 1,178,596 shares, compared to its average volume of 1,721,647. The stock has a 50-day moving average price of $107.88 and a 200-day moving average price of $108.22. The stock has a market capitalization of $21.45 billion, a PE ratio of 20.49, a P/E/G ratio of 1.88 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $100.67 and a 1 year high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were paid 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 0.89%. Zimmer Biomet's dividend payout ratio is presently 18.25%.

Analyst Ratings Changes

ZBH has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research report on Wednesday, January 29th. Raymond James cut their price objective on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, October 14th. Wells Fargo & Company raised their target price on Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.