FARMERS & MERCHANTS TRUST Co OF LONG BEACH Boosts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,268 shares of the medical equipment provider’s stock after purchasing an additional 430 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Zimmer Biomet were worth $1,355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZBH. Norges Bank purchased a new position in Zimmer Biomet during the fourth quarter valued at $266,896,000. American Century Companies Inc. lifted its stake in shares of Zimmer Biomet by 21.2% in the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after buying an additional 852,186 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Zimmer Biomet by 23.7% in the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after buying an additional 543,344 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after buying an additional 484,151 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Zimmer Biomet by 16.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock worth $335,895,000 after buying an additional 386,019 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZBH has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $140.00 to $115.00 in a research report on Monday. Citigroup raised their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Argus upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $132.65.

Zimmer Biomet Stock Down 0.4 %

Shares of NYSE:ZBH traded down $0.39 during trading on Tuesday, hitting $105.57. 275,274 shares of the company were exchanged, compared to its average volume of 1,500,012. The stock has a market capitalization of $21.72 billion, a P/E ratio of 22.94, a PEG ratio of 1.95 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $144.80. The firm’s 50 day moving average price is $115.29 and its 200-day moving average price is $121.22.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.07. The business had revenue of $1.89 billion during 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%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

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.