Royal Bank of Canada Sells 86,837 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Royal Bank of Canada trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 319,726 shares of the medical equipment provider’s stock after selling 86,837 shares during the quarter. Royal Bank of Canada owned about 0.17% of Zimmer Biomet worth $28,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at approximately $204,000. Sivia Capital Partners LLC acquired a new position in Zimmer Biomet in the 2nd quarter valued at about $232,000. United Bank raised its stake in shares of Zimmer Biomet by 10.7% during the second quarter. United Bank now owns 11,896 shares of the medical equipment provider’s stock worth $1,085,000 after purchasing an additional 1,153 shares during the last quarter. Federated Hermes Inc. raised its position in Zimmer Biomet by 129.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 1,202 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Zimmer Biomet by 93.6% in the second quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider’s stock valued at $7,004,000 after purchasing an additional 37,116 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $96.02 on Wednesday. The stock’s fifty day simple moving average is $89.30 and its 200 day simple moving average is $89.95. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.86 and a beta of 0.45. Zimmer Biomet Holdings, Inc. has a 52-week low of $79.12 and a 52-week high of $108.29.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, June 25th were given a $0.24 dividend. The ex-dividend date was Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Zimmer Biomet’s dividend payout ratio is presently 24.94%.

Analysts Set New Price Targets

ZBH has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Wells Fargo & Company cut their target price on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings cut Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Truist Financial reiterated a “hold” rating and set a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a report on Wednesday, April 29th. Finally, Robert W. Baird set a $92.00 price objective on Zimmer Biomet in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.00.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the transaction, the insider directly owned 27,251 shares of the company’s stock, valued at $2,252,022.64. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Zimmer Biomet Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.