Thrivent Financial for Lutherans Trims Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Thrivent Financial for Lutherans lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 868,320 shares of the medical equipment provider’s stock after selling 43,324 shares during the quarter. Thrivent Financial for Lutherans owned about 0.44% of Zimmer Biomet worth $93,735,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Crewe Advisors LLC purchased a new position in Zimmer Biomet in the first quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet in the third quarter valued at about $28,000. Bangor Savings Bank purchased a new stake in shares of Zimmer Biomet in the third quarter worth about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at about $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Zimmer Biomet in the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZBH. TD Cowen decreased their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Canaccord Genuity Group lowered their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Truist Financial boosted their price target on Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, Robert W. Baird reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Stock Performance

ZBH opened at $112.54 on Monday. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The stock has a market cap of $22.40 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The business’s 50 day moving average is $106.28 and its 200-day moving average is $109.98. 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 (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the business posted $1.65 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current 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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 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.