Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stake Lessened by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 37.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,239,387 shares of the medical equipment provider’s stock after selling 756,621 shares during the quarter. Bank of America Corp DE owned 0.62% of Zimmer Biomet worth $130,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of Zimmer Biomet by 3.9% in the fourth quarter. Nordea Investment Management AB now owns 16,333 shares of the medical equipment provider’s stock worth $1,732,000 after purchasing an additional 609 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Zimmer Biomet by 14,497.5% during the 4th quarter. ORG Partners LLC now owns 5,839 shares of the medical equipment provider’s stock valued at $617,000 after buying an additional 5,799 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Zimmer Biomet by 8.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,845 shares of the medical equipment provider’s stock valued at $1,710,000 after acquiring an additional 1,173 shares in the last quarter. Czech National Bank increased its stake in shares of Zimmer Biomet by 4.0% in the fourth quarter. Czech National Bank now owns 43,164 shares of the medical equipment provider’s stock worth $4,559,000 after acquiring an additional 1,678 shares during the last quarter. Finally, Brookstone Capital Management raised its holdings in shares of Zimmer Biomet by 34.3% during the fourth quarter. Brookstone Capital Management now owns 8,581 shares of the medical equipment provider’s stock worth $906,000 after acquiring an additional 2,193 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Trading Up 0.1 %

Zimmer Biomet stock opened at $95.22 on Friday. The business has a 50 day moving average price of $104.43 and a two-hundred day moving average price of $106.11. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.92 and a 12 month high of $122.25. The stock has a market cap of $18.84 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 1.01%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.24%.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of recent research reports. Morgan Stanley cut their price target on Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research note on Tuesday. Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the stock a “buy” rating in a research note on Tuesday. Raymond James reduced their price objective on shares of Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, BTIG Research restated a “buy” rating on shares of Zimmer Biomet in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $114.15.

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.