Grandfield & Dodd LLC Trims Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Grandfield & Dodd LLC trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 95,882 shares of the medical equipment provider’s stock after selling 23,684 shares during the period. Grandfield & Dodd LLC’s holdings in Zimmer Biomet were worth $12,655,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ZBH. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet during the 4th quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet during the 4th quarter worth approximately $30,000. Naples Money Management LLC purchased a new stake in Zimmer Biomet during the 4th quarter worth approximately $35,000. Activest Wealth Management increased its stake in Zimmer Biomet by 410.4% during the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 275 shares during the period. Finally, Blue Trust Inc. increased its stake in Zimmer Biomet by 48.4% during the 4th quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock worth $52,000 after buying an additional 153 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZBH has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective on the stock. Oppenheimer increased their price objective on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $115.00 in a research report on Monday, July 1st. Finally, Barclays dropped their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $130.59.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $1.29 during trading hours on Thursday, reaching $108.19. 1,137,152 shares of the company’s stock were exchanged, compared to its average volume of 1,493,676. The firm has a market capitalization of $22.26 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 1.91 and a beta of 1.01. The company has a 50-day moving average of $112.86 and a 200 day moving average of $120.40. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $144.13.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. Zimmer Biomet’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is currently 20.78%.

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.