Oppenheimer Asset Management Inc. Sells 119 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Oppenheimer Asset Management Inc. lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,957 shares of the medical equipment provider’s stock after selling 119 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Zimmer Biomet were worth $755,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ZBH. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 1,215,935 shares during the period. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares during the period. Primecap Management Co. CA raised its holdings in shares of 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 worth $619,037,000 after buying an additional 484,151 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of 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 buying an additional 211,637 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Zimmer Biomet by 5.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after buying an additional 167,038 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $106.32 on Friday. The firm has a fifty day moving average of $109.88 and a two-hundred day moving average of $115.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90.

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

Zimmer Biomet Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on ZBH. Royal Bank of Canada cut their price objective on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Oppenheimer reduced their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating for the company. UBS Group reduced their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James dropped their price target on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $125.17.

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.