First Manhattan CO. LLC. Lowers Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

First Manhattan CO. LLC. lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,477 shares of the medical equipment provider’s stock after selling 120 shares during the quarter. First Manhattan CO. LLC.’s holdings in Zimmer Biomet were worth $792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Roman Butler Fullerton & Co. acquired a new position in shares of Zimmer Biomet during the fourth quarter worth about $473,000. KLCM Advisors Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter worth about $7,825,000. Peddock Capital Advisors LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter worth about $654,000. Van ECK Associates Corp lifted its stake in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after purchasing an additional 218,688 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its stake in shares of Zimmer Biomet by 34.4% during the fourth quarter. Reinhart Partners LLC. now owns 86,755 shares of the medical equipment provider’s stock worth $9,164,000 after purchasing an additional 22,220 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ZBH. Royal Bank of Canada cut their price target on Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. BTIG Research reiterated a “buy” rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Truist Financial set a $101.00 price objective on Zimmer Biomet in a research note on Tuesday, May 6th. Wells Fargo & Company cut their price objective on Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group cut their price objective on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $114.15.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $95.22 on Monday. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.92 and a 12-month high of $122.25. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. The business has a 50 day simple moving average of $104.43 and a 200 day simple moving average of $106.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company posted $1.94 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.24 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 1.01%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.24%.

Insiders Place Their Bets

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. This represents a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.39% of the stock is currently owned by insiders.

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.