Cambridge Investment Research Advisors Inc. Sells 1,738 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cambridge Investment Research Advisors Inc. trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,952 shares of the medical equipment provider’s stock after selling 1,738 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Zimmer Biomet were worth $1,333,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Brandes Investment Partners LP bought a new position in shares of Zimmer Biomet in the 4th quarter worth $214,000. Assetmark Inc. raised its position in shares of Zimmer Biomet by 3.7% in the 4th quarter. Assetmark Inc. now owns 35,765 shares of the medical equipment provider’s stock worth $4,353,000 after acquiring an additional 1,280 shares in the last quarter. CreativeOne Wealth LLC bought a new position in shares of Zimmer Biomet in the 4th quarter worth $209,000. Corient Private Wealth LLC increased its position in Zimmer Biomet by 5.3% during the 4th quarter. Corient Private Wealth LLC now owns 64,508 shares of the medical equipment provider’s stock valued at $7,851,000 after buying an additional 3,230 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Zimmer Biomet by 18.9% in the fourth quarter. D.A. Davidson & CO. now owns 12,465 shares of the medical equipment provider’s stock valued at $1,517,000 after buying an additional 1,984 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Up 0.6 %

Zimmer Biomet stock opened at $113.37 on Friday. The firm has a market cap of $23.32 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $147.50. The business’s 50-day moving average price is $120.97 and its 200 day moving average price is $121.94. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBHGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $1.89 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.85%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s payout ratio is currently 20.78%.

Analysts Set New Price Targets

ZBH has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a research note on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price target for the company. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. increased their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a research note on Friday, February 23rd. Finally, Evercore ISI raised their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $133.75.

Read Our Latest Research Report on Zimmer Biomet

Zimmer Biomet Company Profile

(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

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

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