Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Lowered by Olde Wealth Management LLC

Olde Wealth Management LLC trimmed its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,437 shares of the medical equipment provider’s stock after selling 283 shares during the period. Olde Wealth Management LLC’s holdings in Zimmer Biomet were worth $388,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Zimmer Biomet by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock valued at $485,000 after purchasing an additional 102 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Zimmer Biomet by 0.4% during the fourth quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock valued at $2,834,000 after purchasing an additional 108 shares during the last quarter. MGO One Seven LLC lifted its holdings in shares of Zimmer Biomet by 5.1% during the fourth quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 110 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Zimmer Biomet by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider’s stock valued at $2,903,000 after purchasing an additional 118 shares during the last quarter. Finally, FWG Holdings LLC lifted its holdings in shares of Zimmer Biomet by 3.5% during the fourth quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider’s stock valued at $402,000 after purchasing an additional 124 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $93.67 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The stock’s 50-day moving average is $94.04 and its two-hundred day moving average is $101.78. The firm has a market cap of $18.53 billion, a P/E ratio of 20.72, a PEG ratio of 2.17 and a beta of 0.71.

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

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s dividend payout ratio is 21.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Raymond James Financial reduced their target price on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Royal Bank Of Canada reduced their price objective on Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Morgan Stanley reduced their price objective on Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Robert W. Baird reduced their price objective on Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Finally, JMP Securities reduced their price objective on Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $111.33.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the insider owned 20,424 shares of the company’s stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.39% of the company’s stock.

Zimmer Biomet Company 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.