Cerity Partners LLC Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cerity Partners LLC lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,669 shares of the medical equipment provider's stock after selling 3,282 shares during the quarter. Cerity Partners LLC's holdings in Zimmer Biomet were worth $4,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Dodge & Cox grew its stake in shares of Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after acquiring an additional 2,044,645 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Zimmer Biomet by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider's stock worth $1,559,147,000 after acquiring an additional 176,337 shares during the period. Franklin Resources Inc. grew its stake in shares of Zimmer Biomet by 398.7% during the 4th 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 period. Northern Trust Corp grew its stake in shares of Zimmer Biomet by 7.6% during the 4th quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider's stock worth $250,367,000 after acquiring an additional 167,435 shares during the period. Finally, Norges Bank bought a new position in shares of Zimmer Biomet during the 4th quarter worth $216,223,000. Institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ZBH shares. Canaccord Genuity Group cut their price target on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company cut their price target on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Evercore ISI cut their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research note on Tuesday, July 8th. Finally, JMP Securities cut their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $111.39.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded down $1.72 on Friday, hitting $93.18. The company's stock had a trading volume of 1,314,882 shares, compared to its average volume of 1,830,864. The company has a 50-day simple moving average of $93.30 and a 200 day simple moving average of $101.01. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The company has a market capitalization of $18.44 billion, a PE ratio of 20.62, a PEG ratio of 2.18 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.

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 for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. Zimmer Biomet's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.94 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company 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. The ex-dividend date is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.03%. Zimmer Biomet's dividend payout ratio is 21.24%.

Insider Buying and Selling at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the insider directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.39% of the company's stock.

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.