Costello Asset Management INC Sells 2,977 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Costello Asset Management INC trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.0% in the 4th quarter, Holdings Channel reports. The fund owned 14,582 shares of the medical equipment provider’s stock after selling 2,977 shares during the quarter. Costello Asset Management INC’s holdings in Zimmer Biomet were worth $1,540,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Zimmer Biomet by 2.6% in the third 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 boosted its stake in Zimmer Biomet by 12.4% in 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 purchasing an additional 411,163 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Zimmer Biomet by 0.4% during the 3rd 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 purchasing an additional 9,990 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in 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 valued at $189,161,000 after purchasing an additional 577,320 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Zimmer Biomet by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock worth $108,621,000 after buying an additional 4,388 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZBH. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Wednesday. Raymond James reduced their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Barclays lowered their price target on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Truist Financial lifted their price objective on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Oppenheimer lowered their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $124.11.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $109.36 on Friday. The stock’s fifty day moving average is $107.94 and its 200 day moving average is $108.26. Zimmer Biomet Holdings, Inc. has a one year low of $100.67 and a one year high of $133.90. 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 stock has a market cap of $21.77 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.90 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. The firm had revenue of $1.82 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. 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 company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.88%. The ex-dividend date was Monday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

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.