Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% during the 2nd quarter, Holdings Channel reports. The fund owned 911,644 shares of the medical equipment provider’s stock after selling 32,660 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Zimmer Biomet were worth $98,940,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Zimmer Biomet in the fourth quarter valued at $30,000. Crewe Advisors LLC purchased a new stake in Zimmer Biomet during the 1st quarter worth about $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth about $33,000. Finally, J.Safra Asset Management Corp increased its holdings in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZBH has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on 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. JPMorgan Chase & Co. lowered their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Raymond James cut their price target on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Finally, Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Two equities 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 has an average rating of “Hold” and a consensus target price of $125.17.

Zimmer Biomet Trading Up 0.1 %

NYSE ZBH opened at $106.42 on Friday. 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 $21.89 billion, a P/E ratio of 23.03, a P/E/G 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. The firm has a 50-day moving average price of $109.83 and a 200 day moving average price of $115.46.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Announces Dividend

The business 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 $0.24 dividend. 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 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.