Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,584 shares of the medical equipment provider’s stock after selling 459 shares during the period. Apollon Wealth Management LLC’s holdings in Zimmer Biomet were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Versor Investments LP lifted its stake in shares of Zimmer Biomet by 93.4% in the 3rd quarter. Versor Investments LP now owns 18,565 shares of the medical equipment provider’s stock valued at $2,004,000 after purchasing an additional 8,965 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet in the 3rd quarter worth $28,000. River Global Investors LLP increased its holdings in Zimmer Biomet by 31.3% in the 3rd quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after acquiring an additional 5,030 shares in the last quarter. Covestor Ltd grew its holdings in shares of Zimmer Biomet by 36.3% during the third quarter. Covestor Ltd now owns 1,088 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 290 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of Zimmer Biomet by 95.2% during the third quarter. Mesirow Financial Investment Management Inc. now owns 5,254 shares of the medical equipment provider’s stock worth $567,000 after buying an additional 2,563 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $112.54 on Monday. The firm has a market capitalization of $22.40 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.07 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average is $106.28 and its two-hundred day moving average is $109.98.

Zimmer Biomet (NYSE:ZBH) last announced 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 company had revenue of $1.82 billion for 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 firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date 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 (DPR) is presently 18.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZBH. Oppenheimer lowered their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Raymond James reduced their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Evercore ISI reduced their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research report 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 given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.22.

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.