First Horizon Advisors Inc. Sells 599 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

First Horizon Advisors Inc. trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 48.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 632 shares of the medical equipment provider’s stock after selling 599 shares during the period. First Horizon Advisors Inc.’s holdings in Zimmer Biomet were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ZBH. Great Valley Advisor Group Inc. purchased a new stake in shares of Zimmer Biomet during the 4th quarter valued at approximately $216,000. Searle & CO. purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $243,000. Concord Wealth Partners boosted its holdings in shares of Zimmer Biomet by 10.1% in the fourth quarter. Concord Wealth Partners now owns 1,420 shares of the medical equipment provider’s stock worth $173,000 after acquiring an additional 130 shares during the period. Victory Capital Management Inc. grew its position in shares of Zimmer Biomet by 3.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock valued at $389,355,000 after purchasing an additional 118,839 shares in the last quarter. Finally, Arnhold LLC bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $1,118,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

ZBH stock opened at $121.43 on Wednesday. The firm has a market cap of $24.98 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.18 and a beta of 1.03. The firm’s fifty day moving average is $125.07 and its 200 day moving average is $120.44. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $147.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.89 earnings per share. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.09 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of recent analyst reports. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 23rd. Finally, Evercore ISI boosted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $135.40.

Insider Transactions at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company 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.