Choate Investment Advisors Has $345,000 Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Choate Investment Advisors cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,270 shares of the medical equipment provider’s stock after selling 419 shares during the period. Choate Investment Advisors’ holdings in Zimmer Biomet were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Roman Butler Fullerton & Co. acquired a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $473,000. Geode Capital Management LLC lifted its position in shares of Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after purchasing an additional 125,852 shares in the last quarter. M&T Bank Corp lifted its position in shares of Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after purchasing an additional 8,709 shares in the last quarter. KLCM Advisors Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $7,825,000. Finally, Peddock Capital Advisors LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $654,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Truist Financial reissued a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Raymond James dropped their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Stock Up 1.7 %

Shares of ZBH stock opened at $111.85 on Tuesday. The firm has a fifty day moving average of $105.99 and a 200-day moving average of $106.90. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $133.90. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the prior year, the business earned $2.20 earnings per share. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

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.