Cambridge Trust Co. Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cambridge Trust Co. cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,540 shares of the medical equipment provider’s stock after selling 197 shares during the period. Cambridge Trust Co.’s holdings in Zimmer Biomet were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ZBH. Vanguard Group Inc. grew its position in Zimmer Biomet by 19.0% in the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after acquiring an additional 3,695,510 shares during the period. Dodge & Cox grew its position in Zimmer Biomet by 131.9% in the second quarter. Dodge & Cox now owns 5,410,600 shares of the medical equipment provider’s stock worth $568,438,000 after acquiring an additional 3,077,685 shares during the period. Price T Rowe Associates Inc. MD grew its position in Zimmer Biomet by 18.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,549,223 shares of the medical equipment provider’s stock worth $1,102,922,000 after acquiring an additional 1,619,881 shares during the period. Balyasny Asset Management LLC grew its position in Zimmer Biomet by 781.7% in the third quarter. Balyasny Asset Management LLC now owns 1,183,372 shares of the medical equipment provider’s stock worth $123,722,000 after acquiring an additional 1,049,159 shares during the period. Finally, Eaton Vance Management lifted its stake in Zimmer Biomet by 489.0% during the first quarter. Eaton Vance Management now owns 1,175,757 shares of the medical equipment provider’s stock worth $150,381,000 after purchasing an additional 976,153 shares in the last quarter. 87.21% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 0.9 %

Shares of NYSE ZBH opened at $124.31 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $100.39 and a 12-month high of $135.05. The company has a current ratio of 1.88, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The stock has a market cap of $26.11 billion, a P/E ratio of 113.01, a PEG ratio of 2.87 and a beta of 1.00. The business’s fifty day simple moving average is $125.21 and its 200-day simple moving average is $118.70.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Wednesday, March 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, March 28th. Zimmer Biomet’s dividend payout ratio is presently 87.27%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ZBH shares. Loop Capital upped their price target on Zimmer Biomet from $125.00 to $140.00 in a research note on Monday, February 6th. StockNews.com started coverage on Zimmer Biomet in a research note on Thursday. They set a “buy” rating on the stock. Wells Fargo & Company upgraded Zimmer Biomet from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $116.00 to $124.00 in a research note on Wednesday, November 23rd. Piper Sandler upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $135.00 to $145.00 in a research note on Thursday, March 9th. Finally, JMP Securities restated a “market outperform” rating and set a $145.00 price target on shares of Zimmer Biomet in a research note on Tuesday, February 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $133.56.

Zimmer Biomet Profile

(Get Rating)

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.