Fifth Third Bancorp Sells 1,822 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Posted by Defense World Staff on Apr 7th, 2023

Fifth Third Bancorp trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,959 shares of the medical equipment provider’s stock after selling 1,822 shares during the quarter. Fifth Third Bancorp’s holdings in Zimmer Biomet were worth $2,927,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. raised its position in shares of Zimmer Biomet by 0.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 14,006 shares of the medical equipment provider’s stock worth $1,464,000 after acquiring an additional 91 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Zimmer Biomet by 4.0% during the fourth quarter. HB Wealth Management LLC now owns 2,371 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 92 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Zimmer Biomet by 21.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 563 shares of the medical equipment provider’s stock valued at $59,000 after buying an additional 99 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Zimmer Biomet by 5.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,860 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 102 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of Zimmer Biomet by 2.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 3,795 shares of the medical equipment provider’s stock worth $397,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 87.21% of the company’s stock.

Insider Activity

In related news, VP Chad F. Phipps sold 23,045 shares of the company’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $124.50, for a total value of $2,869,102.50. Following the completion of the transaction, the vice president now owns 43,671 shares of the company’s stock, valued at approximately $5,437,039.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

ZBH has been the topic of several analyst reports. UBS Group started coverage on shares of Zimmer Biomet in a report on Tuesday, March 28th. They issued a “sell” rating and a $112.00 price target on the stock. Jefferies Financial Group raised Zimmer Biomet from an “underperform” rating to a “hold” rating and upped their target price for the company from $115.00 to $130.00 in a research report on Friday, March 31st. Robert W. Baird raised their price target on Zimmer Biomet from $133.00 to $145.00 in a report on Monday, February 6th. Royal Bank of Canada upgraded shares of Zimmer Biomet from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $125.00 to $141.00 in a report on Monday, January 9th. Finally, Oppenheimer lifted their target price on shares of Zimmer Biomet from $120.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $133.06.

Zimmer Biomet Stock Up 0.5 %

Zimmer Biomet stock opened at $129.17 on Friday. Zimmer Biomet Holdings, Inc. has a 52 week low of $100.39 and a 52 week high of $135.05. The firm has a market cap of $26.99 billion, a price-to-earnings ratio of 117.43, a price-to-earnings-growth ratio of 2.93 and a beta of 1.00. The business’s 50-day moving average price is $126.02 and its 200 day moving average price is $120.20. The company has a quick ratio of 0.97, a current ratio of 1.88 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The medical equipment provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.05. Zimmer Biomet had a net margin of 3.33% and a return on equity of 11.97%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company earned $1.95 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.04 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, March 29th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, March 28th. Zimmer Biomet’s payout ratio is currently 87.27%.

Zimmer Biomet Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.