Choreo LLC Has $1.41 Million Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Choreo LLC lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 18.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,447 shares of the medical equipment provider's stock after selling 2,788 shares during the quarter. Choreo LLC's holdings in Zimmer Biomet were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC bought a new position in Zimmer Biomet during the fourth quarter worth $204,000. Proficio Capital Partners LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at $55,000. LPL Financial LLC boosted its holdings in shares of Zimmer Biomet by 11.3% during the fourth quarter. LPL Financial LLC now owns 99,721 shares of the medical equipment provider's stock valued at $10,534,000 after acquiring an additional 10,122 shares during the period. TIAA Trust National Association boosted its holdings in shares of Zimmer Biomet by 25.5% during the fourth quarter. TIAA Trust National Association now owns 6,359 shares of the medical equipment provider's stock valued at $672,000 after acquiring an additional 1,292 shares during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at $142,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Insiders Place Their Bets

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 20,424 shares in the company, valued at approximately $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.39% of the company's stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several analyst reports. BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Roth Capital raised shares of Zimmer Biomet from a "neutral" rating to a "buy" rating and set a $135.00 price target for the company in a report on Tuesday, July 15th. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a report on Tuesday, May 6th. Raymond James Financial reduced their price target on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Evercore ISI cut their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 8th. Two equities research 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.com, the company has a consensus rating of "Hold" and a consensus price target of $111.39.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded up $0.72 during midday trading on Friday, hitting $97.59. The company's stock had a trading volume of 1,068,261 shares, compared to its average volume of 1,849,641. The stock's 50-day moving average price is $93.20 and its 200-day moving average price is $100.64. The company has a market capitalization of $19.31 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released 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 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 analysts' expectations of $1.89 billion. During the same quarter in the previous year, the business posted $1.94 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 0.98%. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.24%.

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.