1ST Source Bank Sells 141 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

1ST Source Bank cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 7,523 shares of the medical equipment provider’s stock after selling 141 shares during the period. 1ST Source Bank’s holdings in Zimmer Biomet were worth $795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CKW Financial Group lifted its stake in Zimmer Biomet by 11.7% during the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock worth $101,000 after purchasing an additional 100 shares during the last quarter. FWG Holdings LLC lifted its stake in shares of Zimmer Biomet by 2.9% in the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after acquiring an additional 101 shares during the last quarter. Romano Brothers AND Company lifted its stake in shares of Zimmer Biomet by 1.1% in the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock valued at $1,000,000 after acquiring an additional 102 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock valued at $485,000 after acquiring an additional 102 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Zimmer Biomet by 0.4% in the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock valued at $2,834,000 after acquiring an additional 108 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ZBH has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Raymond James dropped their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Stifel Nicolaus increased their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Finally, Barclays decreased their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $111.85 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $105.99 and a two-hundred day moving average price of $106.90. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $133.90. The company has a market cap of $22.26 billion, a P/E ratio of 25.13, a PEG ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the firm posted $2.20 earnings per share. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

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.