Oppenheimer Asset Management Inc. Cuts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Oppenheimer Asset Management Inc. lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 4.8% during the third quarter, HoldingsChannel.com reports. The fund owned 8,039 shares of the medical equipment provider’s stock after selling 404 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Zimmer Biomet were worth $902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. grew its stake in Zimmer Biomet by 4.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 2,063 shares of the medical equipment provider’s stock worth $300,000 after buying an additional 80 shares in the last quarter. Private Trust Co. NA grew its stake in Zimmer Biomet by 8.1% in the 2nd quarter. Private Trust Co. NA now owns 1,105 shares of the medical equipment provider’s stock worth $161,000 after buying an additional 83 shares in the last quarter. Glenview Trust Co grew its stake in Zimmer Biomet by 1.5% in the 2nd quarter. Glenview Trust Co now owns 5,564 shares of the medical equipment provider’s stock worth $810,000 after buying an additional 84 shares in the last quarter. Parallel Advisors LLC grew its stake in Zimmer Biomet by 5.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,583 shares of the medical equipment provider’s stock worth $231,000 after buying an additional 85 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its stake in Zimmer Biomet by 1.3% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 6,452 shares of the medical equipment provider’s stock worth $823,000 after buying an additional 85 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Zimmer Biomet Stock Down 3.5 %

Shares of NYSE ZBH opened at $123.04 on Friday. The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Zimmer Biomet Holdings, Inc. has a 12 month low of $102.00 and a 12 month high of $149.25. The firm has a market capitalization of $25.71 billion, a PE ratio of 54.44, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The firm has a fifty day simple moving average of $121.29 and a two-hundred day simple moving average of $117.80.

Zimmer Biomet (NYSE:ZBHGet Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The medical equipment provider reported $1.65 EPS for the quarter, topping the consensus estimate of $1.59 by $0.06. Zimmer Biomet had a net margin of 6.52% and a return on equity of 12.41%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the business earned $1.58 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, December 27th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.96 annualized dividend and a yield of 0.78%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 42.48%.

Analyst Ratings Changes

ZBH has been the subject of a number of research reports. Roth Mkm initiated coverage on shares of Zimmer Biomet in a research note on Friday, October 20th. They issued a “neutral” rating and a $120.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. Truist Financial upped their price objective on shares of Zimmer Biomet from $115.00 to $133.00 and gave the company a “hold” rating in a research note on Friday, December 22nd. JPMorgan Chase & Co. cut their price objective on shares of Zimmer Biomet from $146.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Finally, Evercore ISI cut shares of Zimmer Biomet from an “outperform” rating to an “inline” rating and cut their price objective for the company from $135.00 to $125.00 in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and a consensus price target of $137.47.

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Zimmer Biomet Profile

(Free Report)

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.

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

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