Pacer Advisors Inc. Trims Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Pacer Advisors Inc. has reduced its stake in Zimmer Biomet Holdings, Inc. by 35.9%, selling 5,717 shares and now holding 10,208 shares valued at approximately $1,155,000.
• In the latest quarter, Zimmer Biomet reported a quarterly revenue of $1.91 billion, exceeding analyst expectations of $1.89 billion, while the earnings per share were $1.81, surpassing the consensus estimate.
• The company plans to pay a quarterly dividend of $0.24 per share on July 31st, with a current annualized yield of 1.03% and a payout ratio of 21.24%.

Pacer Advisors Inc. decreased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 35.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,208 shares of the medical equipment provider's stock after selling 5,717 shares during the quarter. Pacer Advisors Inc.'s holdings in Zimmer Biomet were worth $1,155,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Assetmark Inc. raised its position in Zimmer Biomet by 38.3% in the 1st quarter. Assetmark Inc. now owns 8,992 shares of the medical equipment provider's stock worth $1,018,000 after buying an additional 2,491 shares during the last quarter. John G Ullman & Associates Inc. grew its stake in shares of Zimmer Biomet by 14.6% during the 1st quarter. John G Ullman & Associates Inc. now owns 30,150 shares of the medical equipment provider's stock valued at $3,412,000 after purchasing an additional 3,850 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Zimmer Biomet by 10.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,525 shares of the medical equipment provider's stock valued at $852,000 after purchasing an additional 693 shares during the period. Sound Shore Management Inc. CT grew its stake in shares of Zimmer Biomet by 3.6% during the 1st quarter. Sound Shore Management Inc. CT now owns 798,486 shares of the medical equipment provider's stock valued at $90,373,000 after purchasing an additional 27,423 shares during the period. Finally, Auto Owners Insurance Co grew its stake in shares of Zimmer Biomet by 204.3% during the 1st quarter. Auto Owners Insurance Co now owns 68,000 shares of the medical equipment provider's stock valued at $7,696,000 after purchasing an additional 45,650 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded down $1.02 during midday trading on Friday, reaching $90.63. 2,308,387 shares of the stock traded hands, compared to its average volume of 1,662,550. The stock's fifty day moving average is $93.17 and its 200-day moving average is $100.29. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The stock has a market cap of $17.93 billion, a P/E ratio of 20.05, a PEG ratio of 2.14 and a beta of 0.68. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The company's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current 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 given 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 yield of 1.1%. Zimmer Biomet's dividend payout ratio is 21.24%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company'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 sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZBH. The Goldman Sachs Group cut their price target on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Raymond James Financial cut their price target on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Truist Financial set a $101.00 price target on Zimmer Biomet in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $111.39.

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.