Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Holdings Cut by Simmons Bank

Simmons Bank cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 36.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,093 shares of the medical equipment provider’s stock after selling 1,218 shares during the quarter. Simmons Bank’s holdings in Zimmer Biomet were worth $226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. M&G Plc acquired a new stake in Zimmer Biomet in the first quarter worth $7,397,000. Gradient Investments LLC increased its holdings in shares of Zimmer Biomet by 17.3% in the 2nd quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock worth $14,147,000 after acquiring an additional 19,224 shares during the period. National Pension Service lifted its position in Zimmer Biomet by 3.8% in the 3rd quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock valued at $39,893,000 after purchasing an additional 13,612 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Zimmer Biomet by 7.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock valued at $30,265,000 after purchasing an additional 15,548 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $2,740,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James reduced their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. dropped their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Robert W. Baird dropped their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer lowered their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.22.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $108.85 on Friday. The company has a market cap of $21.67 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.02 and a beta of 1.02. The firm’s fifty day moving average price is $106.04 and its two-hundred day moving average price is $110.19. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

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.