Norway Savings Bank Lowers Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Norway Savings Bank lowered its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,074 shares of the medical equipment provider's stock after selling 5,497 shares during the period. Norway Savings Bank's holdings in Zimmer Biomet were worth $348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ZBH. Menard Financial Group LLC bought a new stake in Zimmer Biomet during the 4th quarter worth approximately $30,000. Accredited Wealth Management LLC bought a new position in shares of Zimmer Biomet in the 4th quarter worth $36,000. OFI Invest Asset Management bought a new position in shares of Zimmer Biomet in the 4th quarter worth $40,000. FNY Investment Advisers LLC increased its holdings in shares of Zimmer Biomet by 90.5% in the 1st quarter. FNY Investment Advisers LLC now owns 400 shares of the medical equipment provider's stock worth $45,000 after buying an additional 190 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of Zimmer Biomet by 86.6% in the 4th quarter. Dunhill Financial LLC now owns 444 shares of the medical equipment provider's stock worth $47,000 after buying an additional 206 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded up $0.67 during trading on Friday, reaching $91.22. 4,060,771 shares of the company traded hands, compared to its average volume of 1,795,968. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $18.05 billion, a PE ratio of 20.18, a P/E/G ratio of 2.11 and a beta of 0.72. The firm has a 50 day simple moving average of $95.28 and a 200-day simple moving average of $102.80. 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 posted its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 earnings per share. 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 will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZBH. JMP Securities decreased their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a research note on Tuesday, May 6th. The Goldman Sachs Group cut their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research note 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. Finally, Royal Bank Of Canada dropped their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $111.53.

Insider Buying and Selling at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider now owns 20,424 shares in the company, valued at approximately $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.39% of the company's stock.

Zimmer Biomet 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.