Commerce Bank Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Commerce Bank decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 22,169 shares of the medical equipment provider’s stock after selling 700 shares during the quarter. Commerce Bank’s holdings in Zimmer Biomet were worth $2,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BLB&B Advisors LLC raised its holdings in Zimmer Biomet by 2.1% in the 3rd quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after acquiring an additional 100 shares during the last quarter. FWG Holdings LLC increased its holdings in shares of Zimmer Biomet by 2.9% in the third quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after purchasing an additional 101 shares during the last quarter. Financial Advocates Investment Management lifted its position in Zimmer Biomet by 3.5% during the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after buying an additional 103 shares in the last quarter. M&R Capital Management Inc. boosted its stake in Zimmer Biomet by 14.1% during the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock worth $92,000 after buying an additional 105 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC grew its holdings in shares of Zimmer Biomet by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 106 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ZBH shares. Canaccord Genuity Group dropped their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company upped their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Wolfe Research initiated coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Finally, BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Two investment 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 data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target of $123.22.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $110.22 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. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The stock’s 50-day moving average is $106.79 and its two-hundred day moving average is $109.69. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed 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 was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is currently 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.