Pinnacle Associates Ltd. lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 71.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,548 shares of the medical equipment provider’s stock after selling 3,842 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Zimmer Biomet were worth $200,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. ICICI Prudential Asset Management Co Ltd increased its stake in shares of Zimmer Biomet by 3.9% in the 1st quarter. ICICI Prudential Asset Management Co Ltd now owns 60,345 shares of the medical equipment provider’s stock valued at $7,797,000 after acquiring an additional 2,284 shares in the last quarter. Summit Global Investments increased its stake in Zimmer Biomet by 13.1% during the 1st quarter. Summit Global Investments now owns 2,617 shares of the medical equipment provider’s stock valued at $338,000 after purchasing an additional 303 shares in the last quarter. Ellevest Inc. increased its stake in Zimmer Biomet by 7.7% during the 1st quarter. Ellevest Inc. now owns 1,334 shares of the medical equipment provider’s stock valued at $172,000 after purchasing an additional 95 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Zimmer Biomet by 0.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 94,693 shares of the medical equipment provider’s stock valued at $12,234,000 after purchasing an additional 600 shares in the last quarter. Finally, Intrust Bank NA increased its stake in Zimmer Biomet by 7.4% during the 1st quarter. Intrust Bank NA now owns 3,615 shares of the medical equipment provider’s stock valued at $467,000 after purchasing an additional 248 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on ZBH. FIG Partners upgraded shares of Zimmer Biomet to a “neutral” rating in a research note on Wednesday, May 3rd. Truist Financial decreased their price target on shares of Zimmer Biomet from $153.00 to $148.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. Royal Bank of Canada boosted their price target on shares of Zimmer Biomet from $141.00 to $156.00 in a research note on Wednesday, May 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Wednesday, August 2nd. Finally, SpectralCast reaffirmed a “maintains” rating on shares of Zimmer Biomet in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $145.50.
Zimmer Biomet Price Performance
NYSE ZBH opened at $125.62 on Tuesday. The company has a market cap of $26.25 billion, a PE ratio of 52.12, a price-to-earnings-growth ratio of 2.48 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.60 and a 52 week high of $149.25. The company has a quick ratio of 0.95, a current ratio of 1.96 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $138.60 and its two-hundred day simple moving average is $132.71.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Zimmer Biomet had a net margin of 7.03% and a return on equity of 12.36%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.51 earnings per share for the current year.
Zimmer Biomet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, June 26th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, June 23rd. Zimmer Biomet’s dividend payout ratio is presently 39.83%.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company 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. 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.
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