Atria Wealth Solutions Inc. Lowers Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Atria Wealth Solutions Inc. decreased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,318 shares of the medical equipment provider’s stock after selling 3,248 shares during the period. Atria Wealth Solutions Inc.’s holdings in Zimmer Biomet were worth $2,111,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ZBH. GAMMA Investing LLC purchased a new position in Zimmer Biomet in the fourth quarter worth $65,000. Community Bank & Trust Waco Texas lifted its stake in Zimmer Biomet by 60.6% during the fourth quarter. Community Bank & Trust Waco Texas now owns 5,736 shares of the medical equipment provider’s stock worth $698,000 after purchasing an additional 2,164 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Zimmer Biomet by 3.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 123,822 shares of the medical equipment provider’s stock worth $15,069,000 after purchasing an additional 4,000 shares in the last quarter. RWA Wealth Partners LLC bought a new position in shares of Zimmer Biomet during the 4th quarter valued at about $375,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Zimmer Biomet by 1.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,859 shares of the medical equipment provider’s stock valued at $2,295,000 after buying an additional 344 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ZBH. StockNews.com cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Raymond James increased their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Truist Financial boosted their price target on shares of Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 9th. Finally, Citigroup boosted their target price on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $139.39.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $121.70 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $149.25. The stock has a market cap of $25.00 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The firm’s fifty day simple moving average is $125.92 and its 200 day simple moving average is $119.80.

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

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s payout ratio is presently 19.63%.

Zimmer Biomet Profile

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.