Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Reduced by Argent Trust Co

Argent Trust Co cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,553 shares of the medical equipment provider’s stock after selling 530 shares during the quarter. Argent Trust Co’s holdings in Zimmer Biomet were worth $1,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc raised its position in Zimmer Biomet by 10.1% in the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after acquiring an additional 15,552 shares in the last quarter. Bank of Nova Scotia raised its holdings in Zimmer Biomet by 499.0% during the 4th quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock worth $16,397,000 after buying an additional 112,237 shares during the period. Speece Thorson Capital Group Inc. raised its holdings in Zimmer Biomet by 13.8% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock worth $19,253,000 after buying an additional 19,144 shares during the period. APG Asset Management US Inc. acquired a new stake in Zimmer Biomet during the 4th quarter worth about $14,530,000. Finally, M&G Plc acquired a new stake in Zimmer Biomet during the 1st quarter worth about $7,397,000. 88.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZBH. JPMorgan Chase & Co. cut their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday. Wolfe Research started coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. The Goldman Sachs Group started coverage on Zimmer Biomet in a research note on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price on the stock. Finally, Morgan Stanley lowered their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Stock Up 0.1 %

Shares of ZBH stock opened at $106.34 on Thursday. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $133.90. The firm has a market cap of $21.66 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The stock has a 50 day moving average of $109.92 and a 200-day moving average of $115.72. 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 issued its quarterly 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. 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 analyst estimates of $1.94 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

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.