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National Bank of Canada FI Trims Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Zimmer Biomet logo with Medical background

Key Points

  • National Bank of Canada FI sold 99,870 shares of Zimmer Biomet Holdings, decreasing its stake by 37.9%, and currently owns 163,592 shares valued at approximately $18.52 million.
  • Zimmer Biomet reported an earnings per share (EPS) of $2.07 for the latest quarter, exceeding estimates, with revenue increasing by 7.0% year-over-year to reach $2.08 billion.
  • The company also declared a quarterly dividend of $0.24 per share, representing an annualized yield of 1.0% with a payout ratio of 23.36%.
  • Need better tools to track Zimmer Biomet? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

National Bank of Canada FI lessened its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 37.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,592 shares of the medical equipment provider's stock after selling 99,870 shares during the quarter. National Bank of Canada FI owned about 0.08% of Zimmer Biomet worth $18,516,000 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 the stock. Garde Capital Inc. bought a new stake in shares of Zimmer Biomet during the first quarter worth about $29,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. acquired a new position in Zimmer Biomet in the first quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new position in shares of Zimmer Biomet during the first quarter worth approximately $30,000. Finally, Accent Capital Management LLC acquired a new position in shares of Zimmer Biomet during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Up 1.2%

NYSE ZBH traded up $1.21 during midday trading on Wednesday, hitting $103.03. 1,254,277 shares of the company traded hands, compared to its average volume of 2,089,097. 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 company has a market cap of $20.41 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. The company's 50-day simple moving average is $93.71 and its 200-day simple moving average is $99.59. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.22 and a 52 week high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (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 analyst estimates of $2.06 billion. During the same quarter last year, the business posted $2.01 EPS. The firm's quarterly revenue was up 7.0% 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 Announces Dividend

The business also recently announced 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%.

Analyst Upgrades and Downgrades

A number of equities research 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 report on Friday, August 8th. Morgan Stanley reduced their price objective on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $111.44.

Read Our Latest Research Report on Zimmer Biomet

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

About Zimmer Biomet

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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