Summit Global Investments Has $230,000 Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Summit Global Investments cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 20.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,888 shares of the medical equipment provider’s stock after selling 481 shares during the quarter. Summit Global Investments’ holdings in Zimmer Biomet were worth $230,000 as of its most recent SEC filing.

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

Zimmer Biomet Stock Down 0.9 %

Shares of NYSE:ZBH opened at $120.57 on Tuesday. The company has a market cap of $24.80 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.23 and a beta of 1.03. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $147.50. The firm has a fifty day moving average price of $125.17 and a two-hundred day moving average price of $120.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80.

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

Zimmer Biomet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZBH. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 2nd. Barclays upped their price target on Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Truist Financial dropped their price objective on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday. StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $135.40.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the 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 approximately $5,677,929.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

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.