ING Groep NV Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

ING Groep NV decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 84.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,637 shares of the medical equipment provider’s stock after selling 90,246 shares during the quarter. ING Groep NV’s holdings in Zimmer Biomet were worth $1,796,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ZBH. Sivik Global Healthcare LLC purchased a new stake in shares of Zimmer Biomet during the 3rd quarter valued at about $4,318,000. Metis Global Partners LLC increased its stake in Zimmer Biomet by 6.0% during the third quarter. Metis Global Partners LLC now owns 11,885 shares of the medical equipment provider’s stock worth $1,283,000 after acquiring an additional 671 shares during the last quarter. KBC Group NV raised its position in Zimmer Biomet by 64.0% during the third quarter. KBC Group NV now owns 25,287 shares of the medical equipment provider’s stock valued at $2,730,000 after purchasing an additional 9,864 shares during the period. Hourglass Capital LLC lifted its stake in shares of Zimmer Biomet by 3.7% in the 3rd quarter. Hourglass Capital LLC now owns 45,875 shares of the medical equipment provider’s stock valued at $4,952,000 after purchasing an additional 1,625 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Zimmer Biomet by 4.6% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 84,999 shares of the medical equipment provider’s stock worth $9,176,000 after purchasing an additional 3,700 shares during the period. Institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ZBH shares. Truist Financial raised their price target on Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group lowered their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada upped their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Evercore ISI cut their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Stock Performance

ZBH stock opened at $112.54 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The business has a 50-day moving average price of $106.28 and a 200 day moving average price of $110.11. The company has a market capitalization of $22.40 billion, a P/E ratio of 21.40, a PEG ratio of 2.00 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

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.