Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,480,357 shares of the medical equipment provider's stock after selling 83,548 shares during the period. Bank of New York Mellon Corp owned 0.75% of Zimmer Biomet worth $167,547,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ZBH. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $29,000. Menard Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $30,000. Washington Trust Advisors Inc. acquired a new stake in shares of Zimmer Biomet in the first quarter worth approximately $30,000. Columbia River Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the first quarter worth approximately $30,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $36,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Stock Down 1.3%

Zimmer Biomet stock traded down $1.27 during midday trading on Friday, hitting $93.88. 1,573,583 shares of the stock were exchanged, compared to its average volume of 1,825,360. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The firm has a market cap of $18.57 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.20 and a beta of 0.71. 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 company has a 50 day moving average price of $93.37 and a two-hundred day moving average price of $101.44.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The company's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given 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 presently 21.24%.

Analyst Ratings Changes

Several research firms recently issued reports on ZBH. Raymond James Financial decreased their target price on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Morgan Stanley decreased their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. BTIG Research restated a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, Robert W. Baird cut their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $110.00.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.39% of the stock is owned by 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.