Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Short Interest Down 18.9% in May

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 4,580,000 shares, a decline of 18.9% from the May 15th total of 5,650,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 3.6 days.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded up $0.22 on Friday, hitting $107.19. The company’s stock had a trading volume of 1,611,412 shares, compared to its average volume of 1,425,935. The company has a market capitalization of $22.05 billion, a PE ratio of 23.20, a PEG ratio of 1.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The company has a 50-day simple moving average of $118.61 and a 200 day simple moving average of $121.78. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $147.50.

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

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio is 20.78%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup upped their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Oppenheimer increased their price objective on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Evercore ISI lifted their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Tuesday, May 21st. Finally, StockNews.com downgraded shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $133.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after buying an additional 484,151 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Zimmer Biomet by 21.2% in the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after buying an additional 852,186 shares during the period. Boston Partners lifted its stake in shares of Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Zimmer Biomet by 3.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock valued at $389,355,000 after acquiring an additional 118,839 shares during the period. 88.89% of the stock is currently owned by institutional investors.

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.