Robeco Institutional Asset Management B.V. Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 23.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,742 shares of the medical equipment provider's stock after selling 7,063 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Zimmer Biomet were worth $2,574,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ZBH. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet during the 1st quarter valued at approximately $29,000. Menard Financial Group LLC purchased a new position in Zimmer Biomet in the 4th quarter valued at approximately $30,000. Accredited Wealth Management LLC purchased a new position in Zimmer Biomet in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new position in Zimmer Biomet during the fourth quarter worth $40,000. Finally, FNY Investment Advisers LLC boosted its position in Zimmer Biomet by 90.5% during the first quarter. FNY Investment Advisers LLC now owns 400 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 190 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of Zimmer Biomet 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 transaction, the insider owned 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ZBH shares. Wells Fargo & Company dropped their price target on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group lowered their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a report on Tuesday, May 6th. JMP Securities reduced 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. Finally, BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $111.33.

Zimmer Biomet Trading Up 0.2%

Shares of NYSE:ZBH traded up $0.17 during midday trading on Thursday, reaching $93.67. The company's stock had a trading volume of 927,032 shares, compared to its average volume of 1,808,334. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.16 and a beta of 0.71. The business has a 50 day moving average price of $94.35 and a 200 day moving average price of $101.97. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. 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 posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the business earned $1.94 EPS. The firm's revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is 21.24%.

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.