DnB Asset Management AS Sells 1,140 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

DnB Asset Management AS reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 62,750 shares of the medical equipment provider’s stock after selling 1,140 shares during the quarter. DnB Asset Management AS’s holdings in Zimmer Biomet were worth $6,593,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Motco bought a new position in Zimmer Biomet in the 1st quarter valued at approximately $26,000. Cyrus J. Lawrence LLC bought a new position in Zimmer Biomet in the first quarter valued at about $27,000. HHM Wealth Advisors LLC boosted its stake in shares of Zimmer Biomet by 84.0% during the first quarter. HHM Wealth Advisors LLC now owns 219 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Tcwp LLC bought a new stake in shares of Zimmer Biomet during the first quarter worth about $32,000. Finally, Nvwm LLC increased its stake in shares of Zimmer Biomet by 150.0% in the first quarter. Nvwm LLC now owns 250 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 150 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zimmer Biomet

In related news, insider Zuilen Wilfred Van sold 531 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $105.22, for a total transaction of $55,871.82. Following the completion of the sale, the insider now owns 2,240 shares in the company, valued at $235,692.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Piper Sandler reduced their target price on shares of Zimmer Biomet from $130.00 to $120.00 in a report on Tuesday, August 2nd. Needham & Company LLC downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Citigroup lifted their target price on Zimmer Biomet from $114.00 to $119.00 in a report on Wednesday, August 3rd. Stifel Nicolaus lowered their price objective on Zimmer Biomet from $140.00 to $120.00 in a research report on Monday, July 18th. Finally, Morgan Stanley upped their target price on Zimmer Biomet from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target of $133.50.

Zimmer Biomet Price Performance

Shares of ZBH opened at $112.69 on Monday. The business’s fifty day moving average is $110.38 and its 200 day moving average is $115.65. Zimmer Biomet Holdings, Inc. has a 12-month low of $100.39 and a 12-month high of $153.76. The company has a quick ratio of 0.95, a current ratio of 1.81 and a debt-to-equity ratio of 0.43. The stock has a market cap of $23.64 billion, a P/E ratio of 103.39, a P/E/G ratio of 3.34 and a beta of 1.14.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.72 billion. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 earnings per share. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.8 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, September 29th. Zimmer Biomet’s dividend payout ratio is currently 88.07%.

About Zimmer Biomet

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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