Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Decreased by Meyer Handelman Co.

Meyer Handelman Co. lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,745 shares of the medical equipment provider's stock after selling 3,795 shares during the quarter. Meyer Handelman Co.'s holdings in Zimmer Biomet were worth $4,385,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ZBH. Stonebridge Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $25,000. Menard Financial Group LLC acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $30,000. Accredited Wealth Management LLC acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $36,000. Kentucky Trust Co acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $39,000. Finally, OFI Invest Asset Management acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares of the company's stock, valued at $915,379.20. The trade was a 14.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.39% of the stock is owned by insiders.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded down $1.05 during mid-day trading on Monday, hitting $91.12. The company had a trading volume of 1,648,195 shares, compared to its average volume of 1,799,587. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.95 and a beta of 0.78. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.92 and a 12 month high of $116.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The firm's 50 day simple moving average is $99.99 and its two-hundred day simple moving average is $104.74.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm posted $1.94 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is presently 21.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZBH. Robert W. Baird lowered their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Royal Bank of Canada lowered their price objective on Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Barclays lowered their price objective on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. Finally, 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. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of "Hold" and an average price target of $111.53.

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.