Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Cut by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 49.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,074 shares of the medical equipment provider’s stock after selling 1,045 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Zimmer Biomet were worth $117,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OLD Point Trust & Financial Services N A acquired a new stake in Zimmer Biomet in the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Zimmer Biomet during the fourth quarter worth about $30,000. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet in the 1st quarter worth about $31,000. Family Firm Inc. bought a new stake in Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, J.Safra Asset Management Corp boosted its stake in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target on the stock. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Tuesday, September 17th. Raymond James reduced their price objective on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research assumed coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Trading Up 1.2 %

Shares of NYSE ZBH opened at $107.74 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. 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 cap of $22.17 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 1.97 and a beta of 1.02. The business has a fifty day simple moving average of $109.77 and a 200-day simple moving average of $115.05.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company posted $1.82 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.01 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. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is 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.