Sentry Investment Management LLC Sells 550 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sentry Investment Management LLC reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 50.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 551 shares of the medical equipment provider’s stock after selling 550 shares during the quarter. Sentry Investment Management LLC’s holdings in Zimmer Biomet were worth $60,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Zimmer Biomet by 12.9% in the first 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 purchasing an additional 1,215,935 shares in the last quarter. Primecap Management Co. CA raised its position 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 during the last quarter. Victory Capital Management Inc. boosted its position in Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after acquiring an additional 211,637 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Zimmer Biomet by 5.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after acquiring an additional 167,038 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZBH. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, August 8th. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $115.00 in a report on Monday, July 1st. Royal Bank of Canada dropped their target price on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Citigroup decreased their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $125.44.

Zimmer Biomet Trading Up 1.1 %

Shares of ZBH stock opened at $106.26 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $133.90. The company has a market capitalization of $21.64 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. The firm has a 50 day moving average price of $109.90 and a two-hundred day moving average price of $116.16. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 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.