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

Birch Hill Investment Advisors LLC lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 63.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ZBH. Menard Financial Group LLC bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $30,000. Accredited Wealth Management LLC bought a new stake in Zimmer Biomet during the fourth quarter valued at about $36,000. OFI Invest Asset Management bought a new position in shares of Zimmer Biomet in the fourth quarter worth about $40,000. FNY Investment Advisers LLC grew its stake in shares of Zimmer Biomet by 90.5% during the 1st quarter. FNY Investment Advisers LLC now owns 400 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 190 shares during the period. Finally, Dunhill Financial LLC grew its stake in shares of Zimmer Biomet by 86.6% during the 4th quarter. Dunhill Financial LLC now owns 444 shares of the medical equipment provider's stock valued at $47,000 after acquiring an additional 206 shares during the period. 88.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Royal Bank of Canada lowered their target price on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a research note 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. BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Finally, Morgan Stanley cut their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has an average rating of "Hold" and an average price target of $111.53.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider now directly owns 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is owned by company insiders.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $92.15 on Tuesday. The firm has a market capitalization of $18.23 billion, a PE ratio of 20.71, a PEG ratio of 1.95 and a beta of 0.72. The stock's fifty day moving average is $96.27 and its 200 day moving average is $103.30. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

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 issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's payout ratio is currently 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.

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