Private Advisor Group LLC lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,057 shares of the medical equipment provider’s stock after selling 965 shares during the quarter. Private Advisor Group LLC’s holdings in Zimmer Biomet were worth $1,194,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at $31,000. Bangor Savings Bank purchased a new stake in shares of Zimmer Biomet during the 3rd quarter valued at $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at $33,000. J.Safra Asset Management Corp raised its position 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 valued at $35,000 after buying an additional 235 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Zimmer Biomet in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on ZBH. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday. UBS Group decreased their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird decreased their target price 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. Finally, Morgan Stanley decreased their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average target price of $123.58.
Zimmer Biomet Trading Down 2.6 %
Shares of ZBH opened at $106.92 on Friday. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The firm has a market capitalization of $22.00 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.88 and a beta of 1.02. The firm’s 50-day moving average price is $107.11 and its 200-day moving average price is $111.00. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business earned $1.65 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current year.
Zimmer Biomet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.
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.
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