Sequoia Financial Advisors LLC Sells 16,194 Shares of Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Sequoia Financial Advisors reduced its Zimmer Biomet stake by 19.9% in the fourth quarter, selling 16,194 shares and leaving it with 65,014 shares valued at about $5.85 million.
• Insider selling and mixed analyst sentiment were highlighted, including SVP Lori Winkler’s sale of 2,650 shares, while several firms lowered price targets and the overall Wall Street rating remained a “Hold.”
• Zimmer Biomet beat earnings expectations in its latest quarter, posting EPS of $2.09 versus $1.86 expected and revenue of $2.09 billion, while also announcing a quarterly dividend of $0.24 per share.

Sequoia Financial Advisors LLC lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,014 shares of the medical equipment provider's stock after selling 16,194 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Zimmer Biomet were worth $5,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZBH. Brighton Jones LLC bought a new stake in shares of Zimmer Biomet during the fourth quarter worth $204,000. Sivia Capital Partners LLC bought a new stake in shares of Zimmer Biomet during the second quarter worth $232,000. United Bank grew its stake in shares of Zimmer Biomet by 10.7% during the second quarter. United Bank now owns 11,896 shares of the medical equipment provider's stock worth $1,085,000 after buying an additional 1,153 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Zimmer Biomet by 129.2% during the second quarter. Federated Hermes Inc. now owns 2,132 shares of the medical equipment provider's stock worth $194,000 after buying an additional 1,202 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Zimmer Biomet by 93.6% during the second quarter. Cerity Partners LLC now owns 76,785 shares of the medical equipment provider's stock worth $7,004,000 after buying an additional 37,116 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 2,650 shares of Zimmer Biomet stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $94.66, for a total transaction of $250,849.00. Following the completion of the transaction, the senior vice president owned 10,224 shares of the company's stock, valued at $967,803.84. This trade represents a 20.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ZBH shares. Truist Financial reaffirmed a "hold" rating and set a $92.00 target price (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Wells Fargo & Company cut their price target on shares of Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 29th. UBS Group reiterated a "sell" rating and set a $89.00 price target on shares of Zimmer Biomet in a report on Wednesday, February 11th. Leerink Partners assumed coverage on shares of Zimmer Biomet in a report on Monday, April 13th. They set a "hold" rating and a $101.00 price target on the stock. Finally, Barclays cut their price target on shares of Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating on the stock in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $102.80.

Zimmer Biomet Stock Down 1.4%

Zimmer Biomet stock opened at $82.24 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. Zimmer Biomet Holdings, Inc. has a 52-week low of $79.83 and a 52-week high of $108.29. The firm has a 50 day moving average price of $91.56 and a two-hundred day moving average price of $92.31. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.93 and a beta of 0.48.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the business earned $1.81 EPS. The company's revenue was up 9.3% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.47 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Zimmer Biomet's dividend payout ratio (DPR) is currently 24.94%.

About Zimmer Biomet

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.