Ballentine Partners LLC Decreases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Ballentine Partners LLC lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,782 shares of the medical equipment provider’s stock after selling 175 shares during the period. Ballentine Partners LLC’s holdings in Zimmer Biomet were worth $410,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Zimmer Biomet in the 4th quarter valued at about $266,896,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares in the last quarter. Boston Partners boosted its holdings in Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the period. Primecap Management Co. CA grew its stake in Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after buying an additional 484,151 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Zimmer Biomet by 11.3% during the 1st quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after acquiring an additional 320,002 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 0.3 %

Shares of ZBH stock opened at $105.16 on Wednesday. The business has a 50-day moving average price of $109.99 and a two-hundred day moving average price of $116.46. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $133.90. 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 firm has a market cap of $21.42 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $1.82 EPS. Zimmer Biomet’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is presently 20.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group began coverage on Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price target for the company. TD Cowen cut their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Robert W. Baird reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.72.

Zimmer Biomet Company 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.