Birch Hill Investment Advisors LLC Sells 10,521 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Birch Hill Investment Advisors LLC cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 63.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,992 shares of the medical equipment provider's stock after selling 10,521 shares during the period. Birch Hill Investment Advisors LLC's holdings in Zimmer Biomet were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in Zimmer Biomet during the fourth quarter worth about $204,000. Empowered Funds LLC increased its position in shares of Zimmer Biomet by 15.4% during the 4th quarter. Empowered Funds LLC now owns 4,772 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 637 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Zimmer Biomet by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 81,913 shares of the medical equipment provider's stock worth $8,754,000 after purchasing an additional 602 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $456,000. Finally, Principal Securities Inc. grew its stake in shares of Zimmer Biomet by 23.7% in the fourth quarter. Principal Securities Inc. now owns 2,133 shares of the medical equipment provider's stock valued at $225,000 after buying an additional 409 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider now directly owns 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Robert W. Baird cut their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $111.53.

Zimmer Biomet Stock Up 0.7%

NYSE:ZBH traded up $0.67 during trading hours on Friday, hitting $91.22. 4,060,771 shares of the company traded hands, compared to its average volume of 1,802,903. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The company has a market cap of $18.05 billion, a PE ratio of 20.18, a PEG ratio of 2.09 and a beta of 0.72. The firm's 50-day simple moving average is $95.51 and its 200-day simple moving average is $102.99. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's payout ratio is 21.24%.

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.