Raymond James & Associates Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Raymond James & Associates lessened its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 42.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,893 shares of the medical equipment provider's stock after selling 93,401 shares during the period. Raymond James & Associates owned about 0.06% of Zimmer Biomet worth $15,321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. Clear Street Markets LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $27,000. Lazard Asset Management LLC grew its stake in shares of Zimmer Biomet by 70.5% during the 3rd quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 117 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $35,000. Peoples Bank KS bought a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $48,000. Finally, KB Financial Partners LLC bought a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Performance

Shares of ZBH stock traded up $1.54 on Wednesday, hitting $130.01. 1,368,982 shares of the stock were exchanged, compared to its average volume of 1,539,507. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $149.25. The firm's 50 day moving average is $126.09 and its two-hundred day moving average is $118.36. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $26.71 billion, a PE ratio of 26.58, a P/E/G ratio of 2.38 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The firm's revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 EPS. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.74%. Zimmer Biomet's dividend payout ratio (DPR) is presently 19.63%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZBH. Truist Financial increased their price objective on Zimmer Biomet from $133.00 to $135.00 and gave the company a "hold" rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on Zimmer Biomet from $115.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Barclays upped their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the company an "underweight" rating in a research note on Monday, February 12th. Raymond James upped their price objective on Zimmer Biomet from $133.00 to $137.00 and gave the company an "outperform" rating in a research note on Wednesday, January 3rd. Finally, TheStreet upgraded Zimmer Biomet from a "c" rating to a "b-" rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $139.11.

Insider Activity

In related news, VP Chad F. Phipps sold 26,156 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares of the company's stock, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company's stock.

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.