Chevy Chase Trust Holdings LLC Decreases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,588 shares of the medical equipment provider’s stock after selling 4,725 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Zimmer Biomet were worth $11,259,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Asset Management One Co. Ltd. boosted its position in shares of Zimmer Biomet by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 81,913 shares of the medical equipment provider’s stock worth $8,754,000 after purchasing an additional 602 shares in the last quarter. MFG Wealth Management Inc. purchased a new stake in Zimmer Biomet during the 4th quarter valued at $1,506,000. Van ECK Associates Corp raised its stake in Zimmer Biomet by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after buying an additional 218,688 shares during the last quarter. Kentucky Trust Co purchased a new stake in shares of Zimmer Biomet in the 4th quarter worth $39,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the 4th quarter worth $25,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZBH. Barclays dropped their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a report on Monday, February 10th. Raymond James decreased their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Royal Bank of Canada cut their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $100.52 on Monday. The firm has a 50 day simple moving average of $106.34 and a 200-day simple moving average of $107.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.70. The firm has a market cap of $20.01 billion, a PE ratio of 22.59, a P/E/G ratio of 1.83 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter last year, the business earned $2.20 earnings per share. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.25 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.96%. Zimmer Biomet’s dividend payout ratio is currently 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.