Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stock Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 8.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,548 shares of the medical equipment provider’s stock after selling 9,626 shares during the period. Envestnet Asset Management Inc. owned 0.05% of Zimmer Biomet worth $11,244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Old North State Trust LLC purchased a new stake in shares of Zimmer Biomet during the 3rd quarter worth about $54,000. Virtu Financial LLC bought a new position in shares of Zimmer Biomet in the 2nd quarter valued at approximately $882,000. Nicolet Advisory Services LLC raised its stake in shares of Zimmer Biomet by 34.3% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,544 shares of the medical equipment provider’s stock valued at $272,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. raised its stake in shares of Zimmer Biomet by 52.4% in the 3rd quarter. Assetmark Inc. now owns 22,174 shares of the medical equipment provider’s stock valued at $2,318,000 after acquiring an additional 7,621 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its stake in shares of Zimmer Biomet by 18.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,367 shares of the medical equipment provider’s stock valued at $669,000 after acquiring an additional 1,000 shares in the last quarter. 87.21% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $122.70 on Monday. The stock’s fifty day simple moving average is $126.04 and its 200 day simple moving average is $117.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 0.97. The firm has a market cap of $25.77 billion, a price-to-earnings ratio of 111.55, a P/E/G ratio of 2.81 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $100.39 and a one year high of $135.05.

Zimmer Biomet (NYSE:ZBH – Get Rating) last announced its quarterly earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.83 by $0.05. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. Zimmer Biomet’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.95 EPS. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 7.04 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Investors of record on Tuesday, December 27th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, December 23rd. Zimmer Biomet’s dividend payout ratio is 87.27%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ZBH shares. Raymond James raised Zimmer Biomet from a “market perform” rating to an “outperform” rating and set a $144.00 price objective on the stock in a research note on Thursday, January 5th. Evercore ISI downgraded Zimmer Biomet from an “outperform” rating to an “inline” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, January 3rd. Robert W. Baird raised their price objective on Zimmer Biomet from $133.00 to $145.00 in a research note on Monday, February 6th. Truist Financial raised their target price on Zimmer Biomet from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, February 6th. Finally, Oppenheimer raised their target price on Zimmer Biomet from $120.00 to $142.00 and gave the company an “outperform” rating in a report on Monday, February 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $132.18.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.