Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Boston Partners

Key Points

• Boston Partners significantly reduced its stake in Zimmer Biomet Holdings, cutting its position by 57.7% to approximately $78.01 million in value by the end of the first quarter.
• Institutional investors own 88.89% of Zimmer Biomet, with other notable changes in holdings including Vanguard Group increasing its position by 0.7% and JPMorgan Chase & Co. growing its holdings by 251.3%.
• Zimmer Biomet reported earnings of $2.07 per share, exceeding expectations and reflecting a 7.0% year-over-year revenue growth, while additionally announcing a quarterly dividend of $0.24.

Boston Partners lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 57.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 689,877 shares of the medical equipment provider's stock after selling 941,199 shares during the quarter. Boston Partners owned about 0.35% of Zimmer Biomet worth $78,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MGO One Seven LLC increased its position in shares of Zimmer Biomet by 5.1% during the fourth quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock valued at $238,000 after buying an additional 110 shares during the period. Janney Montgomery Scott LLC raised its stake in Zimmer Biomet by 0.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock valued at $2,903,000 after purchasing an additional 118 shares during the period. Curbstone Financial Management Corp increased its stake in Zimmer Biomet by 3.4% in the 1st quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock worth $483,000 after acquiring an additional 140 shares during the last quarter. Roberts Wealth Advisors LLC lifted its holdings in shares of Zimmer Biomet by 0.8% in the 1st quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock worth $2,093,000 after buying an additional 152 shares during the period. Finally, Wesbanco Bank Inc. lifted its stake in shares of Zimmer Biomet by 0.8% during the 1st quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider's stock worth $2,265,000 after purchasing an additional 163 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

NYSE:ZBH traded up $0.65 during trading hours on Friday, hitting $102.77. 1,058,191 shares of the stock traded hands, compared to its average volume of 1,793,758. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The stock has a 50 day moving average price of $94.36 and a 200 day moving average price of $99.32. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 2.02 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's payout ratio is presently 23.36%.

Insider Buying and Selling

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 owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird dropped their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Truist Financial set a $101.00 target price on Zimmer Biomet in a research report on Tuesday, May 6th. The Goldman Sachs Group lowered their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. UBS Group raised their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research note on Friday, August 8th. Finally, Morgan Stanley cut 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $111.44.

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.