Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,064 shares of the medical equipment provider’s stock after selling 518 shares during the quarter. Cetera Investment Advisers’ holdings in Zimmer Biomet were worth $9,473,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cutler Group LLC CA acquired a new stake in shares of Zimmer Biomet during the first quarter worth about $25,000. Clear Street Markets LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth about $27,000. Horizon Bancorp Inc. IN lifted its position in shares of Zimmer Biomet by 1,483.3% during the second quarter. Horizon Bancorp Inc. IN now owns 190 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 178 shares in the last quarter. Orion Capital Management LLC raised its holdings in Zimmer Biomet by 234.7% in the first quarter. Orion Capital Management LLC now owns 251 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 176 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Zimmer Biomet in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Zimmer Biomet Stock Up 2.2 %

ZBH opened at $110.50 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.11 and a quick ratio of 0.99. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $149.25. The stock has a market capitalization of $23.09 billion, a price-to-earnings ratio of 48.89, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. The business has a 50-day moving average of $110.64 and a two-hundred day moving average of $125.42.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Tuesday, November 7th. The medical equipment provider reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.06. Zimmer Biomet had a return on equity of 12.41% and a net margin of 6.52%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.51 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, September 28th. Zimmer Biomet’s dividend payout ratio is presently 42.48%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BTIG Research raised shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $139.00 target price on the stock in a report on Monday, August 28th. Citigroup reduced their target price on shares of Zimmer Biomet from $146.00 to $125.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. Truist Financial reduced their target price on shares of Zimmer Biomet from $153.00 to $148.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Morgan Stanley reduced their target price on shares of Zimmer Biomet from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 8th. Finally, StockNews.com assumed coverage on shares of Zimmer Biomet in a report on Thursday, October 5th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.10.

Insiders Place Their Bets

In related news, Director Sreelakshmi Kolli purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was purchased at an average price of $120.37 per share, for a total transaction of $120,370.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $120,370. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sreelakshmi Kolli purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was purchased at an average price of $120.37 per share, for a total transaction of $120,370.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $120,370. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Hagemann bought 2,000 shares of the business’s stock in a transaction on Monday, August 28th. The stock was acquired at an average cost of $116.48 per share, for a total transaction of $232,960.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $465,920. The disclosure for this purchase can be found here. Insiders purchased a total of 5,300 shares of company stock worth $619,090 in the last 90 days. 0.95% of the stock is owned by company insiders.

Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company 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. 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.