Matrix Asset Advisors Inc. NY Has $10.90 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Matrix Asset Advisors Inc. NY grew its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 14.4% in the second quarter, HoldingsChannel.com reports. The fund owned 103,715 shares of the medical equipment provider’s stock after buying an additional 13,056 shares during the period. Zimmer Biomet comprises about 1.7% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 28th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Zimmer Biomet were worth $10,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gotham Asset Management LLC bought a new position in Zimmer Biomet during the fourth quarter worth about $1,895,000. GSA Capital Partners LLP bought a new stake in Zimmer Biomet during the 4th quarter valued at $448,000. Nissay Asset Management Corp Japan ADV grew its stake in Zimmer Biomet by 4.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 23,265 shares of the medical equipment provider’s stock valued at $2,956,000 after purchasing an additional 943 shares during the last quarter. Blair William & Co. IL raised its holdings in Zimmer Biomet by 1.1% in the 4th quarter. Blair William & Co. IL now owns 25,669 shares of the medical equipment provider’s stock worth $3,261,000 after purchasing an additional 276 shares during the period. Finally, Rodgers Brothers Inc. purchased a new position in Zimmer Biomet in the fourth quarter worth approximately $529,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Zimmer Biomet Price Performance

ZBH stock traded down $1.76 during mid-day trading on Friday, reaching $106.25. 10,616 shares of the company traded hands, compared to its average volume of 970,507. The company has a fifty day moving average price of $111.04 and a 200-day moving average price of $115.44. The company has a market capitalization of $22.29 billion, a P/E ratio of 98.39, a P/E/G ratio of 3.27 and a beta of 1.14. Zimmer Biomet Holdings, Inc. has a 52-week low of $100.39 and a 52-week high of $153.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.81 and a quick ratio of 0.95.

Zimmer Biomet (NYSE:ZBHGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. Zimmer Biomet had a return on equity of 12.20% and a net margin of 3.10%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.8 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is 88.07%.

Insiders Place Their Bets

In related news, insider Zuilen Wilfred Van sold 531 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $105.22, for a total transaction of $55,871.82. Following the completion of the sale, the insider now owns 2,240 shares of the company’s stock, valued at approximately $235,692.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ZBH shares. Piper Sandler dropped their price objective on Zimmer Biomet from $130.00 to $120.00 in a report on Tuesday, August 2nd. Citigroup upped their target price on shares of Zimmer Biomet from $114.00 to $119.00 in a research note on Wednesday, August 3rd. Stifel Nicolaus lowered their price objective on shares of Zimmer Biomet from $140.00 to $120.00 in a research note on Monday, July 18th. Truist Financial lowered their price objective on shares of Zimmer Biomet to $115.00 in a research report on Friday, July 22nd. Finally, Needham & Company LLC downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $133.50.

About Zimmer Biomet

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

See Also

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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