First Trust Direct Indexing L.P. Has $893,000 Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

First Trust Direct Indexing L.P. lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,339 shares of the medical equipment provider’s stock after selling 725 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Zimmer Biomet were worth $893,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. PFG Advisors grew its position in Zimmer Biomet by 4.6% in the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after purchasing an additional 84 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Zimmer Biomet by 21.6% in the fourth quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 92 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Zimmer Biomet by 5.0% in the third quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock valued at $227,000 after purchasing an additional 97 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Zimmer Biomet by 3.8% during the 3rd quarter. Financial Advocates Investment Management now owns 2,625 shares of the medical equipment provider’s stock worth $295,000 after buying an additional 97 shares during the last quarter. Finally, Stokes Family Office LLC boosted its holdings in shares of Zimmer Biomet by 4.1% during the 3rd quarter. Stokes Family Office LLC now owns 2,498 shares of the medical equipment provider’s stock worth $280,000 after buying an additional 99 shares during the period. 88.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Truist Financial reduced their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research report on Friday. Oppenheimer raised their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Canaccord Genuity Group restated a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $135.40.

Zimmer Biomet Trading Up 2.7 %

Shares of ZBH stock opened at $121.68 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $25.00 billion, a P/E ratio of 26.34, a P/E/G ratio of 2.17 and a beta of 1.03. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $147.50. The stock’s fifty day simple moving average is $125.45 and its 200 day simple moving average is $119.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.08 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a $0.24 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio is 20.78%.

Insider Buying and Selling

In other news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at $5,677,929.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by corporate insiders.

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.