Financial Solutions Advisory Group Inc. Invests $866,000 in Zimmer Biomet Holdings, Inc. $ZBH

Financial Solutions Advisory Group Inc. purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,578 shares of the medical equipment provider’s stock, valued at approximately $866,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $204,000. Sivia Capital Partners LLC bought a new position in shares of Zimmer Biomet in the 2nd quarter worth $232,000. United Bank boosted its position in shares of Zimmer Biomet by 10.7% in the 2nd quarter. United Bank now owns 11,896 shares of the medical equipment provider’s stock worth $1,085,000 after purchasing an additional 1,153 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Zimmer Biomet by 129.2% during the second quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 1,202 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Zimmer Biomet by 93.6% during the second quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider’s stock worth $7,004,000 after purchasing an additional 37,116 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Citizens Jmp lowered their price target on Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 29th. Barclays cut their price target on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.00.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $94.20 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. Zimmer Biomet Holdings, Inc. has a twelve month low of $79.12 and a twelve month high of $108.29. The firm’s 50 day moving average price is $88.84 and its two-hundred day moving average price is $89.86. The firm has a market cap of $18.22 billion, a P/E ratio of 24.47, a PEG ratio of 2.77 and a beta of 0.46.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, June 25th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, June 25th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 24.94%.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.