Ramirez Asset Management Inc. Sells 1,291 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Ramirez Asset Management Inc. reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 74.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 450 shares of the medical equipment provider’s stock after selling 1,291 shares during the period. Ramirez Asset Management Inc.’s holdings in Zimmer Biomet were worth $51,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at approximately $29,000. Menard Financial Group LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $30,000. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at approximately $30,000. Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at approximately $30,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $36,000. 88.89% of the stock is currently owned by institutional investors.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider owned 20,424 shares of the company’s stock, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZBH. JPMorgan Chase & Co. decreased their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. JMP Securities decreased their price objective on shares of Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 7th. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Morgan Stanley reduced their price target on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Finally, BTIG Research reissued a “buy” rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.39.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $94.97 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The company has a 50 day moving average price of $93.20 and a 200-day moving average price of $100.53. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be paid a $0.24 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 1.01%. Zimmer Biomet’s dividend payout ratio is currently 21.24%.

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.