Sit Investment Associates Inc. trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 14.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,662 shares of the medical equipment provider's stock after selling 6,770 shares during the period. Sit Investment Associates Inc.'s holdings in Zimmer Biomet were worth $4,602,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ZBH. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $29,000. Menard Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. acquired a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $30,000. Columbia River Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $30,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.
Zimmer Biomet Stock Up 0.6%
Zimmer Biomet stock traded up $0.65 during trading hours on Friday, hitting $102.77. The company had a trading volume of 1,058,191 shares, compared to its average volume of 1,793,758. The firm has a market capitalization of $20.36 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 2.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm's fifty day moving average is $94.36 and its 200-day moving average is $99.32. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71.
Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating the consensus estimate 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%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 EPS. On average, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.
Zimmer Biomet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 26th. Zimmer Biomet's payout ratio is currently 23.36%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a research note on Tuesday, May 6th. UBS Group increased their target price on shares of Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research note on Friday, August 8th. Evercore ISI cut their target price on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a research note on Tuesday, July 8th. Morgan Stanley cut their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $111.44.
Get Our Latest Analysis on Zimmer Biomet
Insider Buying and Selling
In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.
About Zimmer Biomet
(
Free Report)
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.
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