Birch Hill Investment Advisors LLC Sells 10,521 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Birch Hill Investment Advisors LLC decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 63.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,992 shares of the medical equipment provider’s stock after selling 10,521 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Zimmer Biomet were worth $678,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ZBH. Franklin Resources Inc. increased its holdings in Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock valued at $369,469,000 after buying an additional 2,796,372 shares during the period. Norges Bank bought a new position in shares of Zimmer Biomet in the 4th quarter worth $216,223,000. Dodge & Cox lifted its stake in shares of Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock worth $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Zimmer Biomet by 191.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider’s stock valued at $146,763,000 after purchasing an additional 913,310 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new stake in Zimmer Biomet during the fourth quarter valued at about $81,447,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 1.0%

ZBH stock opened at $92.15 on Tuesday. The company has a market capitalization of $18.23 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.95 and a beta of 0.72. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71. The firm’s fifty day simple moving average is $96.27 and its 200-day simple moving average is $103.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.94 EPS. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s payout ratio is presently 21.24%.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 20,424 shares in the company, valued at approximately $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ZBH shares. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. cut their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley reduced their target price on Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $111.53.

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.