Zimmer Biomet Holdings, Inc. $ZBH Stock Position Lowered by Sector Gamma AS

Key Points

• Sector Gamma AS has reduced its holdings in Zimmer Biomet Holdings by 17.5%, now owning 113,631 shares after selling 24,083 shares in the first quarter.
• Institutional investors currently own 88.89% of Zimmer Biomet's stock, with several firms, including Garde Capital Inc. and Menard Financial Group LLC, recently purchasing new positions.
• Although Zimmer Biomet's quarterly earnings exceeded analysts' expectations, several analysts have lowered their price targets for the stock, indicating a general cautious outlook.

Sector Gamma AS decreased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 17.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,631 shares of the medical equipment provider's stock after selling 24,083 shares during the period. Zimmer Biomet comprises approximately 4.1% of Sector Gamma AS's investment portfolio, making the stock its 9th biggest holding. Sector Gamma AS owned about 0.06% of Zimmer Biomet worth $12,861,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Garde Capital Inc. acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $29,000. Menard Financial Group LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $30,000. Washington Trust Advisors Inc. acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $30,000. Columbia River Financial Group LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $30,000. Finally, Accent Capital Management LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ZBH shares. JMP Securities cut their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI cut their price target on Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. 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 report on Tuesday, May 6th. UBS Group increased their price target on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday, August 8th. Finally, The Goldman Sachs Group cut their price target on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has a consensus rating of "Hold" and an average price target of $111.44.

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.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded up $0.65 during midday trading on Friday, reaching $102.77. The company had a trading volume of 1,058,191 shares, compared to its average volume of 1,793,758. The company has a market capitalization of $20.36 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.02 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The firm's fifty day simple moving average is $94.36 and its 200-day simple moving average is $99.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.09. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. Zimmer Biomet's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $2.01 EPS. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS 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%.

Zimmer Biomet Company 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.