Fifth Third Bancorp Trims Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Fifth Third Bancorp lessened its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,926 shares of the medical equipment provider’s stock after selling 2,389 shares during the period. Fifth Third Bancorp’s holdings in Zimmer Biomet were worth $3,033,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. PFG Advisors increased its stake in Zimmer Biomet by 4.6% in the 4th quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock worth $231,000 after buying an additional 84 shares during the period. Bradley Foster & Sargent Inc. CT grew its holdings in Zimmer Biomet by 1.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 6,452 shares of the medical equipment provider’s stock worth $823,000 after acquiring an additional 85 shares in the last quarter. Quent Capital LLC grew its holdings in Zimmer Biomet by 21.6% during the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 92 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Zimmer Biomet by 5.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock worth $227,000 after acquiring an additional 97 shares in the last quarter. Finally, Financial Advocates Investment Management grew its holdings in Zimmer Biomet by 3.8% during the 3rd quarter. Financial Advocates Investment Management now owns 2,625 shares of the medical equipment provider’s stock worth $295,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ZBH shares. Evercore ISI cut shares of Zimmer Biomet from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $135.00 to $125.00 in a report on Thursday, January 4th. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $138.28.

Check Out Our Latest Stock Report on ZBH

Zimmer Biomet Price Performance

NYSE:ZBH opened at $128.47 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. The firm has a market cap of $26.40 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01. The company has a 50 day moving average price of $125.94 and a 200-day moving average price of $118.31. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $149.25.

Zimmer Biomet (NYSE:ZBHGet Free Report) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.75%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s payout ratio is presently 19.63%.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.95% of the stock is owned by insiders.

About Zimmer Biomet

(Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.

See Also

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

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.