1ST Source Bank Trims Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

1ST Source Bank lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,079 shares of the medical equipment provider’s stock after selling 891 shares during the period. 1ST Source Bank’s holdings in Zimmer Biomet were worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth about $26,000. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $31,000. Ables Iannone Moore & Associates Inc. acquired a new position in Zimmer Biomet in the 4th quarter valued at about $30,000. J.Safra Asset Management Corp grew its position in Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in Zimmer Biomet in the 2nd quarter valued at about $33,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $106.26 on Friday. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $109.90 and a two-hundred day moving average of $116.16. The stock has a market cap of $21.64 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZBH. Barclays dropped their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Truist Financial reissued a “hold” rating and set a $112.00 price objective (down from $117.00) on shares of Zimmer Biomet in a research report on Friday. Robert W. Baird lowered their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup lowered their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen lowered their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $125.44.

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.