Signaturefd LLC Sells 278 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Signaturefd LLC reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,183 shares of the medical equipment provider’s stock after selling 278 shares during the quarter. Signaturefd LLC’s holdings in Zimmer Biomet were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Speece Thorson Capital Group Inc. boosted its stake in Zimmer Biomet by 17.4% in the second quarter. Speece Thorson Capital Group Inc. now owns 183,284 shares of the medical equipment provider’s stock worth $19,892,000 after buying an additional 27,127 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Zimmer Biomet during the second quarter valued at $43,000. HB Wealth Management LLC boosted its holdings in Zimmer Biomet by 2.8% in the second quarter. HB Wealth Management LLC now owns 3,864 shares of the medical equipment provider’s stock worth $419,000 after acquiring an additional 107 shares in the last quarter. Kintegral Advisory LLC boosted its stake in Zimmer Biomet by 12.0% in the 2nd quarter. Kintegral Advisory LLC now owns 13,121 shares of the medical equipment provider’s stock worth $1,427,000 after purchasing an additional 1,407 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of Zimmer Biomet by 13.8% during the second quarter. Raymond James Trust N.A. now owns 6,327 shares of the medical equipment provider’s stock valued at $687,000 after buying an additional 766 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Up 0.7 %

Shares of NYSE:ZBH opened at $115.46 on Monday. The stock has a 50-day simple moving average of $109.76 and a 200-day simple moving average of $117.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. The stock has a market capitalization of $23.51 billion, a P/E ratio of 24.99, a PEG ratio of 2.06 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.06 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.83%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. Truist Financial cut their price objective on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Raymond James reduced their target price on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating on the stock in a research note on Tuesday, August 20th. Finally, Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $126.41.

Zimmer Biomet Company 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.