Massachusetts Financial Services Co. MA Sells 10,113 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,001,829 shares of the medical equipment provider’s stock after selling 10,113 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Zimmer Biomet were worth $108,729,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in shares of Zimmer Biomet by 21.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,295 shares of the medical equipment provider’s stock worth $2,835,000 after buying an additional 4,141 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Zimmer Biomet by 2.4% during the 4th quarter. Brown Advisory Inc. now owns 16,799 shares of the medical equipment provider’s stock worth $2,044,000 after buying an additional 396 shares during the last quarter. Norges Bank bought a new stake in shares of Zimmer Biomet during the 4th quarter worth $266,896,000. Coldstream Capital Management Inc. lifted its position in shares of Zimmer Biomet by 6.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,842 shares of the medical equipment provider’s stock worth $346,000 after buying an additional 170 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Zimmer Biomet by 18.9% during the 4th quarter. D.A. Davidson & CO. now owns 12,465 shares of the medical equipment provider’s stock worth $1,517,000 after buying an additional 1,984 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZBH. The Goldman Sachs Group began coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective for the company. Truist Financial reiterated a “hold” rating and issued a $112.00 target price (down from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Piper Sandler downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $115.00 in a research report on Monday, July 1st. Raymond James dropped their target price on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Barclays dropped their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $125.17.

Zimmer Biomet Trading Up 0.1 %

NYSE ZBH opened at $106.34 on Thursday. The business has a 50 day simple moving average of $109.92 and a 200 day simple moving average of $115.72. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The stock has a market capitalization of $21.66 billion, a P/E ratio of 23.02, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last released 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 return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.90%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.