Matrix Asset Advisors Inc. NY Lowers Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Matrix Asset Advisors Inc. NY lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 90,227 shares of the medical equipment provider’s stock after selling 9,268 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Zimmer Biomet were worth $9,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ZBH. Dunhill Financial LLC increased its holdings in shares of Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet in the 3rd quarter worth $28,000. Bangor Savings Bank purchased a new stake in shares of Zimmer Biomet in the third quarter valued at about $31,000. Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet during the third quarter worth about $35,000. Finally, Quarry LP purchased a new position in shares of Zimmer Biomet during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Barclays lowered their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Finally, Raymond James lowered their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Stock Up 1.6 %

Shares of NYSE ZBH opened at $112.54 on Tuesday. The firm’s 50 day moving average price is $107.86 and its 200 day moving average price is $108.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The firm has a market cap of $22.40 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $100.67 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.85%. The ex-dividend date is Monday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

About Zimmer Biomet

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.