Kestra Private Wealth Services LLC Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Kestra Private Wealth Services LLC reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,920 shares of the medical equipment provider’s stock after selling 648 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Zimmer Biomet were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZBH. Van ECK Associates Corp boosted its position in Zimmer Biomet by 23.7% during the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after acquiring an additional 543,344 shares during the last quarter. Greatmark Investment Partners Inc. grew its position in shares of Zimmer Biomet by 6.7% in the fourth quarter. Greatmark Investment Partners Inc. now owns 14,740 shares of the medical equipment provider’s stock valued at $1,794,000 after purchasing an additional 930 shares during the period. Harbor Advisory Corp MA acquired a new position in Zimmer Biomet in the fourth quarter valued at $210,000. Citizens Financial Group Inc. RI purchased a new position in Zimmer Biomet during the fourth quarter worth about $200,000. Finally, Kovack Advisors Inc. boosted its stake in Zimmer Biomet by 14.5% in the 4th quarter. Kovack Advisors Inc. now owns 4,685 shares of the medical equipment provider’s stock worth $570,000 after buying an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 0.9 %

Shares of Zimmer Biomet stock opened at $120.57 on Tuesday. The business has a 50-day moving average price of $125.17 and a 200 day moving average price of $120.32. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The firm has a market cap of $24.80 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.23 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted $1.89 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Insider Buying and Selling

In other news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZBH. Canaccord Genuity Group restated a “hold” rating and issued a $130.00 target price on shares of Zimmer Biomet in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Oppenheimer increased their price objective on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Citigroup boosted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $135.40.

Zimmer Biomet Company Profile

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.