Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 56.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,425 shares of the medical equipment provider's stock after selling 3,173 shares during the period. Goelzer Investment Management Inc.'s holdings in Zimmer Biomet were worth $274,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox raised its position in Zimmer Biomet by 12.0% during the fourth 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 raised its position in Zimmer Biomet by 1.2% during the fourth 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. raised its position in Zimmer Biomet by 398.7% during the fourth 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 raised its position in Zimmer Biomet by 7.6% during the fourth 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 acquired a new position in Zimmer Biomet during the fourth quarter worth $216,223,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zimmer Biomet

In other 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 transaction of $95,000.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZBH shares. The Goldman Sachs Group reduced their target price 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. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. reduced their target price 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. Finally, Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $111.33.

Zimmer Biomet Stock Up 0.2%

ZBH stock traded up $0.17 during midday trading on Friday, reaching $93.67. 927,032 shares of the company were exchanged, compared to its average volume of 1,811,399. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The stock's 50-day simple moving average is $94.04 and its 200 day simple moving average is $101.76. 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 cap of $18.53 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business's revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 dividend on an annualized basis and a yield of 1.02%. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

Zimmer Biomet 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.