Wedmont Private Capital Sells 211 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wedmont Private Capital cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,110 shares of the medical equipment provider’s stock after selling 211 shares during the period. Wedmont Private Capital’s holdings in Zimmer Biomet were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ZBH. Renaissance Technologies LLC lifted its position in Zimmer Biomet by 30.9% during the 4th quarter. Renaissance Technologies LLC now owns 245,000 shares of the medical equipment provider’s stock valued at $31,125,000 after purchasing an additional 57,774 shares during the period. Geode Capital Management LLC lifted its position in Zimmer Biomet by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,744,305 shares of the medical equipment provider’s stock valued at $474,452,000 after purchasing an additional 35,742 shares during the period. Gotham Asset Management LLC acquired a new position in Zimmer Biomet during the 4th quarter valued at about $1,895,000. GSA Capital Partners LLP acquired a new position in Zimmer Biomet during the 4th quarter valued at about $448,000. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of Zimmer Biomet by 4.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 23,265 shares of the medical equipment provider’s stock valued at $2,956,000 after acquiring an additional 943 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $111.77 on Wednesday. Zimmer Biomet Holdings, Inc. has a 1-year low of $100.39 and a 1-year high of $153.76. 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 simple moving average of $110.58 and a 200 day simple moving average of $115.56. The stock has a market capitalization of $23.45 billion, a PE ratio of 102.54, a P/E/G ratio of 3.36 and a beta of 1.14.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.19. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the business earned $1.90 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 6.8 EPS 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 $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Zimmer Biomet’s dividend payout ratio is presently 88.07%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Zuilen Wilfred Van sold 531 shares of Zimmer Biomet 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 directly owns 2,240 shares of the company’s stock, valued at $235,692.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Zimmer Biomet from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Truist Financial cut their price target on shares of Zimmer Biomet to $115.00 in a research report on Friday, July 22nd. Needham & Company LLC downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. Piper Sandler cut their price target on shares of Zimmer Biomet from $130.00 to $120.00 in a research report on Tuesday, August 2nd. Finally, Stifel Nicolaus cut their price target on shares of Zimmer Biomet from $140.00 to $120.00 in a research report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $133.50.

About Zimmer Biomet

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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.

Further Reading

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

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