Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Boosted by Trust Co. of Vermont

Trust Co. of Vermont raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 29.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,487 shares of the medical equipment provider’s stock after buying an additional 566 shares during the quarter. Trust Co. of Vermont’s holdings in Zimmer Biomet were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ZBH. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet in the first quarter worth $31,000. Bangor Savings Bank purchased a new position in Zimmer Biomet in the third quarter valued at about $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet in the second quarter worth approximately $33,000. J.Safra Asset Management Corp increased its stake in shares of 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 worth $35,000 after purchasing an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Zimmer Biomet during the second quarter worth $43,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup reduced their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Raymond James reduced their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. TD Cowen lowered their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Finally, Canaccord Genuity Group cut their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $123.74.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH opened at $106.31 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The business’s fifty day moving average price is $108.11 and its two-hundred day moving average price is $112.31. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The stock has a market capitalization of $21.87 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.98 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

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