Choate Investment Advisors Has $345,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Choate Investment Advisors lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,270 shares of the medical equipment provider’s stock after selling 419 shares during the quarter. Choate Investment Advisors’ holdings in Zimmer Biomet were worth $345,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ZBH. Stonebridge Financial Group LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at $25,000. Dunhill Financial LLC lifted its stake in 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 acquiring an additional 218 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Zimmer Biomet during the 3rd quarter worth about $35,000. Kentucky Trust Co acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth about $39,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

ZBH stock opened at $111.85 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90. The firm has a market cap of $22.26 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.95 and a beta of 1.04. The company’s 50-day moving average price is $105.99 and its two-hundred day moving average price is $106.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating 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 period last year, the company posted $2.20 EPS. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Zimmer Biomet’s payout ratio is currently 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Barclays cut their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded 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 note on Tuesday, December 17th. Truist Financial restated a “hold” rating and set a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, Raymond James lowered their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.15.

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.