Johnson Investment Counsel Inc. Sells 48,531 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Johnson Investment Counsel Inc. decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 41.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,529 shares of the medical equipment provider's stock after selling 48,531 shares during the period. Johnson Investment Counsel Inc.'s holdings in Zimmer Biomet were worth $7,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZBH. Franklin Resources Inc. raised its position in 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 valued at $369,469,000 after purchasing an additional 2,796,372 shares during the last quarter. Norges Bank bought a new position in Zimmer Biomet during the 4th quarter valued at approximately $216,223,000. Dodge & Cox raised its position in Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Zimmer Biomet by 191.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock worth $146,763,000 after acquiring an additional 913,310 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new position in shares of Zimmer Biomet in the 4th quarter worth approximately $81,447,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Up 0.3%

ZBH traded up $0.29 during trading on Monday, hitting $91.51. 1,688,040 shares of the company's stock traded hands, compared to its average volume of 1,795,534. The company's 50 day simple moving average is $95.08 and its two-hundred day simple moving average is $102.64. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The stock has a market capitalization of $18.11 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 2.11 and a beta of 0.72.

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

Zimmer Biomet Announces Dividend

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 of this dividend is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 1.05%. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZBH. JPMorgan Chase & Co. decreased their target price on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley decreased their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Truist Financial set a $101.00 target price on Zimmer Biomet in a research report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group decreased their target price on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $111.53.

Insider Buying and Selling

In related news, insider Sang Yi sold 1,000 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

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.