Dorsey & Whitney Trust CO LLC Cuts Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Dorsey & Whitney Trust CO LLC cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,409 shares of the medical equipment provider’s stock after selling 844 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Zimmer Biomet were worth $311,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. increased its holdings in Zimmer Biomet by 5.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 67,915 shares of the medical equipment provider’s stock valued at $6,197,000 after purchasing an additional 3,634 shares during the period. QSM Asset Management Ltd increased its position in shares of Zimmer Biomet by 36.1% during the second quarter. QSM Asset Management Ltd now owns 111,500 shares of the medical equipment provider’s stock valued at $10,174,000 after buying an additional 29,600 shares during the period. Truist Financial Corp raised its stake in Zimmer Biomet by 34.4% in the second quarter. Truist Financial Corp now owns 26,819 shares of the medical equipment provider’s stock worth $2,446,000 after buying an additional 6,867 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Zimmer Biomet by 89.8% in the second quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider’s stock worth $4,036,000 after buying an additional 20,945 shares during the period. Finally, Magellan Asset Management Ltd boosted its position in Zimmer Biomet by 16.8% during the 2nd quarter. Magellan Asset Management Ltd now owns 505,901 shares of the medical equipment provider’s stock valued at $46,143,000 after acquiring an additional 72,613 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ZBH shares. Evercore ISI dropped their price target on Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Zimmer Biomet in a report on Wednesday, October 8th. Stifel Nicolaus set a $110.00 target price on shares of Zimmer Biomet in a research report on Wednesday, November 5th. Wall Street Zen cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Raymond James Financial lifted their price objective on Zimmer Biomet from $104.00 to $113.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $109.00.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,500 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the completion of the transaction, the senior vice president directly owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. This trade represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.39% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $89.50 on Thursday. The firm’s 50-day moving average price is $97.69 and its 200-day moving average price is $96.79. Zimmer Biomet Holdings, Inc. has a 52-week low of $85.33 and a 52-week high of $114.44. The company has a market cap of $17.74 billion, a PE ratio of 21.78, a PEG ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. Zimmer Biomet’s dividend payout ratio is currently 23.76%.

Zimmer Biomet Company 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.