King Wealth Management Group Decreases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

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King Wealth Management Group reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 58.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,412 shares of the medical equipment provider's stock after selling 8,999 shares during the quarter. King Wealth Management Group's holdings in Zimmer Biomet were worth $726,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ZBH. Dodge & Cox lifted its position in shares of Zimmer Biomet by 12.0% in the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after purchasing an additional 2,044,645 shares during the period. Nuveen Asset Management LLC grew its position in Zimmer Biomet by 191.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after buying an additional 913,310 shares during the period. FMR LLC grew its position in shares of Zimmer Biomet by 91.6% in the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after purchasing an additional 687,675 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Zimmer Biomet in the fourth quarter worth about $67,954,000. Finally, Boston Trust Walden Corp purchased a new position in Zimmer Biomet during the first quarter worth about $54,108,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

ZBH traded down $1.02 on Friday, reaching $90.63. The company had a trading volume of 2,308,387 shares, compared to its average volume of 1,662,550. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The company has a fifty day moving average of $93.17 and a 200-day moving average of $100.29. The company has a market capitalization of $17.93 billion, a P/E ratio of 20.05, a PEG ratio of 2.14 and a beta of 0.68. 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 (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, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. As a group, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 1.1%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Analyst Upgrades and Downgrades

Several research firms have commented on ZBH. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a report on Tuesday, May 6th. Royal Bank Of Canada reduced their target price on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target 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. JMP Securities dropped their price objective on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $111.39.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value 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. The trade was a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.