Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Trimmed by Meyer Handelman Co.

Meyer Handelman Co. cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,540 shares of the medical equipment provider’s stock after selling 3,180 shares during the quarter. Meyer Handelman Co.’s holdings in Zimmer Biomet were worth $4,494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dunhill Financial LLC lifted its position in shares of Zimmer Biomet by 1,090.0% in the 3rd 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 in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet in the third quarter valued at $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet in the third quarter worth $31,000. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet during the third quarter valued at $35,000. Finally, Quarry LP purchased a new stake in Zimmer Biomet in the 2nd quarter worth about $53,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Barclays dropped their price objective on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research note on Thursday, December 12th. Truist Financial lifted their target price on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Finally, Raymond James lowered their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $123.33.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $104.71 on Wednesday. The firm has a market capitalization of $20.85 billion, a PE ratio of 19.91, a PEG ratio of 1.96 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 1 year low of $100.67 and a 1 year high of $133.90. The firm’s fifty day simple moving average is $107.88 and its 200 day simple moving average is $107.97.

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 analysts’ consensus estimates 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 period in the previous year, the company posted $1.65 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Zimmer Biomet’s payout ratio 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.