Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,953 shares of the medical equipment provider’s stock after selling 367 shares during the quarter. SVB Wealth LLC’s holdings in Zimmer Biomet were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bellevue Group AG grew its position in Zimmer Biomet by 0.4% in the 1st quarter. Bellevue Group AG now owns 282,217 shares of the medical equipment provider’s stock valued at $37,247,000 after buying an additional 1,129 shares during the last quarter. Fairview Capital Investment Management LLC boosted its holdings in shares of Zimmer Biomet by 28.7% in the first quarter. Fairview Capital Investment Management LLC now owns 110,470 shares of the medical equipment provider’s stock valued at $14,580,000 after acquiring an additional 24,657 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. Magnetar Financial LLC raised its holdings in Zimmer Biomet by 11.9% during the first quarter. Magnetar Financial LLC now owns 825,449 shares of the medical equipment provider’s stock worth $108,943,000 after purchasing an additional 87,729 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Zimmer Biomet in the first quarter valued at about $68,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. Evercore ISI reduced their target price on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Oppenheimer upped their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Finally, Barclays decreased their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $129.53.

Zimmer Biomet Trading Up 0.6 %

ZBH stock traded up $0.64 during midday trading on Tuesday, hitting $111.43. The stock had a trading volume of 152,192 shares, compared to its average volume of 1,482,663. The firm has a market cap of $22.92 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. 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 Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $139.31. The company’s 50-day moving average price is $110.27 and its 200 day moving average price is $119.42.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly 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. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. On average, equities research analysts predict 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 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 of this dividend is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is 20.78%.

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.