Norway Savings Bank Has $348,000 Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Norway Savings Bank lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 64.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,074 shares of the medical equipment provider's stock after selling 5,497 shares during the quarter. Norway Savings Bank's holdings in Zimmer Biomet were worth $348,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC grew its stake in shares of Zimmer Biomet by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider's stock valued at $485,000 after buying an additional 102 shares during the period. M&T Bank Corp increased its position in Zimmer Biomet by 0.4% during the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider's stock worth $2,834,000 after purchasing an additional 108 shares in the last quarter. MGO One Seven LLC lifted its position in 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 buying an additional 110 shares in the last quarter. Janney Montgomery Scott LLC grew its stake 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 worth $2,903,000 after buying an additional 118 shares during the period. Finally, FWG Holdings LLC increased its position in shares of Zimmer Biomet by 3.5% in the fourth quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider's stock worth $402,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of ZBH stock traded up $0.84 during trading hours on Tuesday, reaching $92.34. The stock had a trading volume of 1,812,404 shares, compared to its average volume of 1,795,604. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The firm has a 50-day simple moving average of $95.08 and a 200-day simple moving average of $102.64. The firm has a market capitalization of $18.27 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.72. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate 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 firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 EPS. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared 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 1.04%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of analyst reports. Canaccord Genuity Group decreased their price target on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a report on Monday, May 12th. JMP Securities decreased their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut their price target on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Two equities research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $111.53.

Insider Activity

In related 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 transaction, the insider now directly owns 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company's stock.

About Zimmer Biomet

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.