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

Bank of New York Mellon Corp cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. increased its stake in Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after acquiring an additional 2,796,372 shares during the last quarter. Norges Bank acquired a new stake in Zimmer Biomet during the 4th quarter worth approximately $216,223,000. Dodge & Cox raised its holdings in Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after buying an additional 2,044,645 shares during the period. Nuveen Asset Management LLC lifted its position in Zimmer Biomet by 191.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after buying an additional 913,310 shares in the last quarter. Finally, Sound Shore Management Inc. CT purchased a new stake in Zimmer Biomet during the fourth quarter worth approximately $81,447,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Up 1.8%

Shares of ZBH stock traded up $1.69 during trading hours on Wednesday, hitting $95.16. 2,769,743 shares of the company were exchanged, compared to its average volume of 1,817,176. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 2.16 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The business's 50-day simple moving average is $93.67 and its two-hundred day simple moving average is $101.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business posted $1.94 EPS. Zimmer Biomet's quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.01%. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

Insider Activity

In related 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 sale, the insider owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ZBH. Robert W. Baird reduced their target price 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. Canaccord Genuity Group reduced their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. The Goldman Sachs Group reduced their price objective on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley lowered their target price 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. Finally, Raymond James Financial reduced their price target on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of "Hold" and a consensus target price of $110.56.

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.