Mizuho Securities USA LLC Cuts Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Mizuho Securities USA LLC has reduced its holdings in Zimmer Biomet Holdings, Inc. by 15.5%, owning 15,940 shares valued at approximately $1.80 million as of the latest SEC filing.
• Zimmer Biomet reported $2.07 earnings per share, surpassing analysts' expectations of $1.98, with a quarterly revenue of $2.08 billion, reflecting a 7.0% increase from the previous year.
• The company recently announced a quarterly dividend of $0.24, yielding an annualized payout of 1.0% and maintaining a dividend payout ratio of 23.36%.

Mizuho Securities USA LLC lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,940 shares of the medical equipment provider's stock after selling 2,928 shares during the quarter. Mizuho Securities USA LLC's holdings in Zimmer Biomet were worth $1,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. MGO One Seven LLC boosted its position in shares of Zimmer Biomet by 5.1% during the fourth quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider's stock valued at $238,000 after purchasing an additional 110 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Zimmer Biomet by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider's stock valued at $2,903,000 after acquiring an additional 118 shares during the last quarter. Curbstone Financial Management Corp grew its holdings in Zimmer Biomet by 3.4% during the first quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider's stock valued at $483,000 after purchasing an additional 140 shares during the period. Roberts Wealth Advisors LLC grew its holdings in Zimmer Biomet by 0.8% during the first quarter. Roberts Wealth Advisors LLC now owns 18,497 shares of the medical equipment provider's stock valued at $2,093,000 after purchasing an additional 152 shares during the period. Finally, Wesbanco Bank Inc. boosted its stake in shares of Zimmer Biomet by 0.8% in the first quarter. Wesbanco Bank Inc. now owns 20,012 shares of the medical equipment provider's stock worth $2,265,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ZBH shares. Royal Bank Of Canada increased their price target on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wells Fargo & Company reduced their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Truist Financial set a $101.00 target price on Zimmer Biomet in a research report on Tuesday, May 6th. Finally, Evercore ISI dropped their target price on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $111.44.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction dated Wednesday, June 11th. The stock was 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 in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.39% of the company's stock.

Zimmer Biomet Stock Performance

ZBH traded up $1.21 on Wednesday, reaching $103.03. 1,254,277 shares of the stock were exchanged, compared to its average volume of 1,865,590. The company's 50-day moving average price is $93.94 and its 200 day moving average price is $99.61. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm has a market capitalization of $20.41 billion, a PE ratio of 25.07, a PEG ratio of 2.32 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. Zimmer Biomet's dividend payout ratio (DPR) is presently 23.36%.

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.