Truist Financial Corp Sells 10,723 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Truist Financial Corp decreased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,734 shares of the medical equipment provider’s stock after selling 10,723 shares during the quarter. Truist Financial Corp’s holdings in Zimmer Biomet were worth $6,539,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Naples Money Management LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $35,000. Activest Wealth Management grew its position in shares of Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 275 shares during the last quarter. Peoples Bank KS purchased a new stake in Zimmer Biomet during the 3rd quarter worth approximately $48,000. Blue Trust Inc. grew its position in Zimmer Biomet by 48.4% during the 4th quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock worth $52,000 after purchasing an additional 153 shares during the last quarter. Finally, Quent Capital LLC grew its position in Zimmer Biomet by 21.6% during the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $121.66 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 1.66. The company has a fifty day moving average of $125.30 and a two-hundred day moving average of $120.02. The stock has a market capitalization of $25.00 billion, a PE ratio of 26.33, a P/E/G ratio of 2.23 and a beta of 1.03. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $147.50.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s payout ratio is 20.78%.

Insider Transactions at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the sale, the vice president now owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ZBH shares. Barclays boosted their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Monday, February 12th. StockNews.com cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Finally, Evercore ISI lifted their price objective on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $135.40.

About Zimmer Biomet

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.