Janney Montgomery Scott LLC Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Janney Montgomery Scott LLC lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 24.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,997 shares of the medical equipment provider’s stock after selling 6,305 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Zimmer Biomet were worth $1,986,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZBH. Trust Asset Management LLC raised its position in shares of Zimmer Biomet by 4.3% during the 2nd quarter. Trust Asset Management LLC now owns 2,182 shares of the medical equipment provider’s stock valued at $229,000 after purchasing an additional 90 shares during the period. Israel Discount Bank of New York grew its stake in shares of Zimmer Biomet by 1.7% in the 2nd quarter. Israel Discount Bank of New York now owns 5,766 shares of the medical equipment provider’s stock worth $606,000 after buying an additional 95 shares in the last quarter. Sandy Spring Bank grew its stake in shares of Zimmer Biomet by 11.6% in the 2nd quarter. Sandy Spring Bank now owns 961 shares of the medical equipment provider’s stock worth $102,000 after buying an additional 100 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Zimmer Biomet by 2.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 3,795 shares of the medical equipment provider’s stock worth $397,000 after buying an additional 106 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of Zimmer Biomet by 1.3% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 8,395 shares of the medical equipment provider’s stock worth $882,000 after buying an additional 110 shares in the last quarter. 87.21% of the stock is currently owned by institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $123.38 on Friday. The firm has a 50-day simple moving average of $121.65 and a 200-day simple moving average of $113.71. The stock has a market capitalization of $25.89 billion, a price-to-earnings ratio of 93.47, a price-to-earnings-growth ratio of 2.32 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.98 and a debt-to-equity ratio of 0.41. Zimmer Biomet Holdings, Inc. has a 52 week low of $100.39 and a 52 week high of $135.05.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.02. Zimmer Biomet had a net margin of 3.89% and a return on equity of 11.92%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business earned $1.81 earnings per share. Zimmer Biomet’s revenue was down 13.2% compared to the same quarter last year. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 6.84 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, December 27th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, December 23rd. Zimmer Biomet’s payout ratio is 72.73%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ZBH. Morgan Stanley lifted their price target on shares of Zimmer Biomet from $120.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, January 6th. Wells Fargo & Company raised shares of Zimmer Biomet from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $116.00 to $124.00 in a research note on Wednesday, November 23rd. Citigroup lifted their price target on shares of Zimmer Biomet from $116.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, December 12th. Raymond James raised shares of Zimmer Biomet from a “market perform” rating to an “outperform” rating and set a $144.00 price objective for the company in a research report on Thursday, January 5th. Finally, Barclays started coverage on shares of Zimmer Biomet in a report on Monday, October 17th. They issued an “underweight” rating and a $104.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $128.86.

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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