Park Avenue Securities LLC Lowers Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Park Avenue Securities LLC reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 54.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,673 shares of the medical equipment provider’s stock after selling 3,181 shares during the period. Park Avenue Securities LLC’s holdings in Zimmer Biomet were worth $353,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Selway Asset Management boosted its holdings in Zimmer Biomet by 21.4% in the first quarter. Selway Asset Management now owns 25,059 shares of the medical equipment provider’s stock valued at $3,307,000 after purchasing an additional 4,420 shares during the period. American National Bank purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at about $65,000. Czech National Bank increased its stake in shares of Zimmer Biomet by 0.5% during the first quarter. Czech National Bank now owns 36,770 shares of the medical equipment provider’s stock worth $4,853,000 after buying an additional 169 shares during the period. Thomasville National Bank raised its holdings in Zimmer Biomet by 6.1% in the first quarter. Thomasville National Bank now owns 87,112 shares of the medical equipment provider’s stock valued at $11,497,000 after acquiring an additional 5,006 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Zimmer Biomet by 546.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 29,843 shares of the medical equipment provider’s stock worth $3,939,000 after acquiring an additional 25,230 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 0.1 %

ZBH opened at $108.53 on Monday. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $147.50. The business has a 50 day moving average price of $115.29 and a two-hundred day moving average price of $121.22. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market cap of $22.33 billion, a PE ratio of 23.49, a P/E/G ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective on the stock. Truist Financial decreased their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Oppenheimer increased their price objective on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Evercore ISI boosted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $133.75.

Zimmer Biomet Profile

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.