Invesco Ltd. Sells 133,064 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Invesco Ltd. has reduced its holdings in Zimmer Biomet by 3.1%, selling 133,064 shares and now owns approximately 2.09% of the company worth around $467.5 million.
• In Q2, Zimmer Biomet reported an EPS of $2.07, beating estimates of $1.98, and revenue of $2.08 billion, reflecting a 7.0% year-over-year growth.
• The company recently paid a quarterly dividend of $0.24, translating to an annualized dividend yield of 1.0% and a payout ratio of 23.36%.

Invesco Ltd. reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,130,670 shares of the medical equipment provider's stock after selling 133,064 shares during the quarter. Invesco Ltd. owned about 2.09% of Zimmer Biomet worth $467,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Zimmer Biomet by 251.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock worth $235,571,000 after buying an additional 1,488,918 shares during the period. Koss Olinger Consulting LLC raised its position in shares of Zimmer Biomet by 2.3% in the 1st quarter. Koss Olinger Consulting LLC now owns 20,378 shares of the medical equipment provider's stock worth $2,306,000 after buying an additional 454 shares during the period. Townsquare Capital LLC raised its position in shares of Zimmer Biomet by 7.4% in the 1st quarter. Townsquare Capital LLC now owns 3,833 shares of the medical equipment provider's stock worth $434,000 after buying an additional 265 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Zimmer Biomet in the 1st quarter worth $48,000. Finally, Citigroup Inc. raised its position in Zimmer Biomet by 47.8% in the first quarter. Citigroup Inc. now owns 195,308 shares of the medical equipment provider's stock valued at $22,105,000 after purchasing an additional 63,125 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. Robert W. Baird cut their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley cut their price objective on 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. JPMorgan Chase & Co. cut their price objective on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group cut their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $111.44.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were 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 in the company, valued at $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.39% of the stock is currently owned by corporate insiders.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded up $1.21 during trading on Wednesday, hitting $103.03. The company had a trading volume of 1,254,277 shares, compared to its average volume of 1,865,590. The company has a market cap of $20.41 billion, a P/E ratio of 12.84, a PEG ratio of 2.32 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $116.71. The business's 50-day moving average is $93.71 and its 200 day moving average is $99.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%. The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter in the prior year, the company earned $2.01 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet's payout ratio is currently 23.36%.

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.