Wedmont Private Capital lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 9.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,110 shares of the medical equipment provider’s stock after selling 211 shares during the quarter. Wedmont Private Capital’s holdings in Zimmer Biomet were worth $222,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in Zimmer Biomet by 30.9% during the fourth quarter. Renaissance Technologies LLC now owns 245,000 shares of the medical equipment provider’s stock worth $31,125,000 after purchasing an additional 57,774 shares during the period. Geode Capital Management LLC lifted its position in Zimmer Biomet by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,744,305 shares of the medical equipment provider’s stock worth $474,452,000 after purchasing an additional 35,742 shares during the period. Gotham Asset Management LLC bought a new stake in Zimmer Biomet during the fourth quarter worth about $1,895,000. GSA Capital Partners LLP bought a new stake in Zimmer Biomet during the fourth quarter worth about $448,000. Finally, Nissay Asset Management Corp Japan ADV lifted its position in Zimmer Biomet by 4.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 23,265 shares of the medical equipment provider’s stock worth $2,956,000 after purchasing an additional 943 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on ZBH shares. Morgan Stanley upped their price objective on shares of Zimmer Biomet from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 3rd. Piper Sandler cut their price objective on shares of Zimmer Biomet from $130.00 to $120.00 in a research report on Tuesday, August 2nd. Needham & Company LLC cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Truist Financial dropped their target price on shares of Zimmer Biomet to $115.00 in a report on Friday, July 22nd. Finally, Citigroup increased their target price on shares of Zimmer Biomet from $114.00 to $119.00 in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $133.50.
Insider Buying and Selling at Zimmer Biomet
Zimmer Biomet Stock Performance
NYSE:ZBH opened at $111.77 on Wednesday. The company has a market capitalization of $23.45 billion, a PE ratio of 102.54, a P/E/G ratio of 3.36 and a beta of 1.14. The company has a 50 day simple moving average of $110.58 and a two-hundred day simple moving average of $115.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 1.81. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.39 and a fifty-two week high of $153.76.
Zimmer Biomet (NYSE:ZBH – Get Rating) last released its earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $1.78 billion during 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 company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.8 earnings per share for the current year.
Zimmer Biomet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, 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 0.86%. The ex-dividend date of this dividend is Thursday, September 29th. Zimmer Biomet’s dividend payout ratio is presently 88.07%.
Zimmer Biomet Profile
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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