Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,125 shares of the medical equipment provider’s stock after selling 837 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Zimmer Biomet were worth $1,099,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in Zimmer Biomet by 186.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,885 shares of the medical equipment provider’s stock worth $229,000 after buying an additional 1,226 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Zimmer Biomet by 12.3% in the fourth quarter. Private Advisor Group LLC now owns 10,610 shares of the medical equipment provider’s stock worth $1,291,000 after acquiring an additional 1,164 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Zimmer Biomet by 86.8% during the fourth quarter. Apollon Wealth Management LLC now owns 4,085 shares of the medical equipment provider’s stock worth $497,000 after purchasing an additional 1,898 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Zimmer Biomet by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,226,398 shares of the medical equipment provider’s stock valued at $149,253,000 after acquiring an additional 22,764 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its holdings in Zimmer Biomet by 6.4% in the 4th quarter. Wealthspire Advisors LLC now owns 8,064 shares of the medical equipment provider’s stock valued at $981,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ZBH shares. Citigroup cut their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Robert W. Baird dropped their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. The Goldman Sachs Group began coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target for the company. Finally, Raymond James cut their price objective on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $126.41.

Zimmer Biomet Trading Down 8.7 %

NYSE ZBH opened at $104.47 on Friday. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90. The firm has a 50 day moving average of $110.11 and a two-hundred day moving average of $117.07. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $21.49 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.06 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Zimmer Biomet’s payout ratio is currently 20.78%.

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.