Greenleaf Trust Sells 1,227 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Greenleaf Trust lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 23.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,045 shares of the medical equipment provider’s stock after selling 1,227 shares during the quarter. Greenleaf Trust’s holdings in Zimmer Biomet were worth $437,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in Zimmer Biomet during the first quarter worth about $31,000. Bangor Savings Bank acquired a new stake in Zimmer Biomet in the 3rd quarter valued at $31,000. Family Firm Inc. bought a new stake in Zimmer Biomet in the second quarter valued at $33,000. J.Safra Asset Management Corp lifted its holdings in shares of Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 1.6 %

Shares of ZBH stock opened at $102.35 on Friday. The firm’s fifty day moving average price is $107.78 and its two-hundred day moving average price is $111.76. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $21.06 billion, a P/E ratio of 22.15, a PEG ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.82 earnings per share. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price target for the company from $140.00 to $115.00 in a report on Monday, July 1st. Truist Financial reissued a “hold” rating and issued a $112.00 target price (down from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. TD Cowen dropped their price target on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Raymond James reduced their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Finally, Robert W. Baird lowered their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average price target 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.