Premier Path Wealth Partners LLC Sells 947 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Premier Path Wealth Partners LLC cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,304 shares of the medical equipment provider’s stock after selling 947 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Zimmer Biomet were worth $1,088,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after acquiring an additional 125,852 shares in the last quarter. Van ECK Associates Corp lifted its position in Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after acquiring an additional 411,163 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Zimmer Biomet by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after acquiring an additional 9,990 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Zimmer Biomet by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,810,770 shares of the medical equipment provider’s stock valued at $196,523,000 after purchasing an additional 154,447 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Zimmer Biomet by 49.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after purchasing an additional 577,320 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Stock Performance

ZBH stock opened at $109.65 on Friday. The stock has a market capitalization of $21.83 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company has a 50 day moving average price of $107.81 and a 200 day moving average price of $107.97. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.67 and a fifty-two week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, December 30th. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James dropped their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Royal Bank of Canada raised their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Evercore ISI cut their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Finally, BTIG Research lowered their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.33.

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.