Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 515,353 shares of the medical equipment provider’s stock after selling 34,703 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.25% of Zimmer Biomet worth $68,016,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC grew its holdings in shares of Zimmer Biomet by 15.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 6,188 shares of the medical equipment provider’s stock valued at $694,000 after acquiring an additional 820 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Zimmer Biomet by 7.8% in the third quarter. Rafferty Asset Management LLC now owns 21,804 shares of the medical equipment provider’s stock valued at $2,447,000 after purchasing an additional 1,570 shares during the period. QRG Capital Management Inc. acquired a new position in Zimmer Biomet during the 3rd quarter worth $475,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth about $1,743,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Zimmer Biomet by 52.6% in the third quarter. Envestnet Asset Management Inc. now owns 287,267 shares of the medical equipment provider’s stock worth $32,237,000 after acquiring an additional 98,977 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 1.5 %

NYSE ZBH traded up $1.61 on Friday, reaching $107.86. The company had a trading volume of 3,445,022 shares, compared to its average volume of 1,512,492. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $147.50. The stock’s 50 day moving average is $116.59 and its 200-day moving average is $121.51. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The stock has a market cap of $22.19 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.91 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. Zimmer Biomet’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ZBH shares. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 30th. Evercore ISI boosted their price target on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price on the stock. Finally, Truist Financial dropped their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a report on Friday, May 3rd. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $133.75.

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.