City State Bank Sells 150 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

City State Bank lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,772 shares of the medical equipment provider’s stock after selling 150 shares during the quarter. City State Bank’s holdings in Zimmer Biomet were worth $191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ZBH. Price T Rowe Associates Inc. MD lifted its position in shares of Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after acquiring an additional 1,215,935 shares during the period. American Century Companies Inc. raised its stake in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Boston Partners lifted its position in Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares during the period. Magnetar Financial LLC grew its stake in Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after buying an additional 484,816 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Zimmer Biomet by 329.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after buying an additional 375,929 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada decreased their price target on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. UBS Group reduced their price objective on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Evercore ISI decreased their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Finally, Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $124.53.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $103.50 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The business’s 50 day simple moving average is $108.37 and its 200 day simple moving average is $113.21. The stock has a market capitalization of $21.29 billion, a PE ratio of 22.40, a PEG ratio of 1.89 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 earnings per share. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced 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 is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.93%. Zimmer Biomet’s payout ratio is 20.78%.

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.