Comerica Bank Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Comerica Bank lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,895 shares of the medical equipment provider’s stock after selling 1,327 shares during the quarter. Comerica Bank’s holdings in Zimmer Biomet were worth $3,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Roman Butler Fullerton & Co. purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at $473,000. KLCM Advisors Inc. bought a new position in Zimmer Biomet during the 4th quarter valued at about $7,825,000. Peddock Capital Advisors LLC purchased a new stake in Zimmer Biomet in the 4th quarter worth about $654,000. Van ECK Associates Corp lifted its stake in Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after purchasing an additional 218,688 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its position in shares of Zimmer Biomet by 34.4% during the fourth quarter. Reinhart Partners LLC. now owns 86,755 shares of the medical equipment provider’s stock valued at $9,164,000 after buying an additional 22,220 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 7th. Truist Financial restated a “hold” rating and issued a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. The Goldman Sachs Group decreased their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley dropped their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given 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 $115.50.

Insider Transactions at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $92.44 on Wednesday. The firm has a market capitalization of $18.29 billion, a P/E ratio of 20.77, a PEG ratio of 1.95 and a beta of 0.78. Zimmer Biomet Holdings, Inc. has a 52 week low of $89.92 and a 52 week high of $122.25. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $105.01 and a 200 day moving average price of $106.32.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $1.94 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, March 31st. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

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.