Vontobel Holding Ltd. Sells 1,185 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Vontobel Holding Ltd. lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,754 shares of the medical equipment provider’s stock after selling 1,185 shares during the quarter. Vontobel Holding Ltd.’s holdings in Zimmer Biomet were worth $729,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at about $1,335,000. B. Riley Wealth Advisors Inc. grew its stake in Zimmer Biomet by 4.3% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,414 shares of the medical equipment provider’s stock worth $416,000 after purchasing an additional 141 shares during the period. Mather Group LLC. purchased a new stake in Zimmer Biomet in the first quarter worth $72,000. Ballentine Partners LLC grew its stake in Zimmer Biomet by 2.6% in the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 100 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in Zimmer Biomet in the first quarter worth $1,712,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $106.31 on Monday. The firm’s 50 day moving average price is $108.11 and its 200-day moving average price is $112.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The firm has a market cap of $21.87 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced 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 firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $1.82 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given 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 is presently 20.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ZBH. TD Cowen cut their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Royal Bank of Canada dropped their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Truist Financial reiterated a “hold” rating and set a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average target price of $123.94.

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.