Vanguard Group Inc. Sells 86,486 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Vanguard Group Inc. lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,772,839 shares of the medical equipment provider’s stock after selling 86,486 shares during the period. Vanguard Group Inc. owned 0.12% of Zimmer Biomet worth $3,137,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ZBH. Primecap Management Co. CA lifted its stake in Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after purchasing an additional 484,151 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Zimmer Biomet by 3.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock worth $389,355,000 after buying an additional 118,839 shares in the last quarter. Van ECK Associates Corp boosted its stake in Zimmer Biomet by 11.3% during the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after buying an additional 320,002 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Zimmer Biomet by 16.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock valued at $335,895,000 after buying an additional 386,019 shares in the last quarter. Finally, Norges Bank bought a new stake in Zimmer Biomet in the 4th quarter worth approximately $266,896,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZBH shares. Morgan Stanley cut their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Truist Financial reduced their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $115.00 in a report on Monday, July 1st. Oppenheimer lifted their price target on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Citigroup lowered their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $129.53.

Zimmer Biomet Trading Down 0.8 %

ZBH stock traded down $0.89 during trading on Friday, hitting $110.50. The company had a trading volume of 1,510,715 shares, compared to its average volume of 1,652,033. The firm has a market capitalization of $22.73 billion, a P/E ratio of 23.92, a PEG ratio of 1.99 and a beta of 1.01. 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 52-week low of $102.00 and a 52-week high of $143.24. The company has a 50 day simple moving average of $111.42 and a 200-day simple moving average of $119.89.

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

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is 20.78%.

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.