Mackay Shields LLC Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mackay Shields LLC cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,038 shares of the medical equipment provider’s stock after selling 1,172 shares during the quarter. Mackay Shields LLC’s holdings in Zimmer Biomet were worth $3,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its stake in Zimmer Biomet by 31.6% in the 1st quarter. Victory Capital Management Inc. now owns 191,278 shares of the medical equipment provider’s stock worth $23,800,000 after purchasing an additional 45,935 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Zimmer Biomet by 3.1% in the 1st quarter. D.A. Davidson & CO. now owns 11,907 shares of the medical equipment provider’s stock worth $1,523,000 after purchasing an additional 357 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Zimmer Biomet by 6.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 14,165 shares of the medical equipment provider’s stock worth $1,812,000 after purchasing an additional 853 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Zimmer Biomet by 1.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 51,619 shares of the medical equipment provider’s stock worth $6,602,000 after purchasing an additional 938 shares in the last quarter. Finally, Cable Hill Partners LLC lifted its stake in Zimmer Biomet by 9.6% in the 4th quarter. Cable Hill Partners LLC now owns 1,685 shares of the medical equipment provider’s stock worth $214,000 after purchasing an additional 148 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Zuilen Wilfred Van sold 531 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $105.22, for a total transaction of $55,871.82. Following the completion of the transaction, the insider now owns 2,240 shares in the company, valued at $235,692.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ZBH. Stifel Nicolaus decreased their target price on shares of Zimmer Biomet from $140.00 to $120.00 in a research note on Monday, July 18th. Needham & Company LLC lowered shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. StockNews.com lowered shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. Piper Sandler reduced their price target on shares of Zimmer Biomet from $130.00 to $120.00 in a research report on Tuesday, August 2nd. Finally, Truist Financial reduced their price target on shares of Zimmer Biomet to $115.00 in a research report on Friday, July 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $133.50.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $110.79 on Friday. The company has a current ratio of 1.81, a quick ratio of 0.95 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $109.25 and a 200 day moving average price of $116.06. The company has a market cap of $23.25 billion, a P/E ratio of 101.64, a PEG ratio of 3.22 and a beta of 1.14. Zimmer Biomet Holdings, Inc. has a 12 month low of $100.39 and a 12 month high of $153.76.

Zimmer Biomet (NYSE:ZBHGet Rating) last issued its earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.72 billion. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 6.8 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is currently 88.07%.

Zimmer Biomet Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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