Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Lessened by Moors & Cabot Inc.

Moors & Cabot Inc. decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,317 shares of the medical equipment provider’s stock after selling 164 shares during the period. Moors & Cabot Inc.’s holdings in Zimmer Biomet were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new stake in shares of Zimmer Biomet in the first quarter valued at $282,000. 1832 Asset Management L.P. boosted its position in shares of Zimmer Biomet by 2.0% during the 1st quarter. 1832 Asset Management L.P. now owns 14,016 shares of the medical equipment provider’s stock valued at $1,850,000 after purchasing an additional 275 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $68,000. Kennedy Capital Management LLC bought a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $1,837,000. Finally, California State Teachers Retirement System lifted its stake in Zimmer Biomet by 1.4% during the first quarter. California State Teachers Retirement System now owns 339,631 shares of the medical equipment provider’s stock valued at $44,824,000 after purchasing an additional 4,751 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 1.7 %

Shares of Zimmer Biomet stock opened at $110.22 on Monday. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.03 and a beta of 1.02. The stock has a 50-day simple moving average of $106.79 and a 200-day simple moving average of $109.62. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ZBH shares. Raymond James cut their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Evercore ISI reduced their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. BTIG Research dropped their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Truist Financial upped their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group dropped their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $123.22.

Zimmer Biomet 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.