KCM Investment Advisors LLC lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Free Report) by 56.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,275 shares of the medical equipment provider’s stock after selling 9,495 shares during the quarter. KCM Investment Advisors LLC’s holdings in Zimmer Biomet were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in ZBH. Main Management ETF Advisors LLC lifted its holdings in shares of Zimmer Biomet by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 10,962 shares of the medical equipment provider’s stock worth $986,000 after buying an additional 112 shares in the last quarter. Citizens National Bank Trust Department grew its stake in Zimmer Biomet by 17.6% during the first quarter. Citizens National Bank Trust Department now owns 941 shares of the medical equipment provider’s stock valued at $85,000 after acquiring an additional 141 shares in the last quarter. Independence Bank of Kentucky increased its holdings in Zimmer Biomet by 9.7% during the 4th quarter. Independence Bank of Kentucky now owns 1,633 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 145 shares during the period. LOM Asset Management Ltd increased its holdings in Zimmer Biomet by 21.5% during the 4th quarter. LOM Asset Management Ltd now owns 830 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 147 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Zimmer Biomet by 0.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 20,363 shares of the medical equipment provider’s stock worth $1,831,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on ZBH shares. Citigroup cut their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. UBS Group initiated coverage on Zimmer Biomet in a research report on Tuesday. They issued a “buy” rating and a $115.00 price objective on the stock. Stifel Nicolaus dropped their price objective on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 target price on Zimmer Biomet in a research report on Wednesday, April 29th. Finally, Citizens Jmp decreased their target price on Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.00.
Insiders Place Their Bets
In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of Zimmer Biomet stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider owned 27,251 shares of the company’s stock, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.28% of the stock is owned by insiders.
Zimmer Biomet Price Performance
Shares of NYSE:ZBH opened at $95.57 on Wednesday. The company’s fifty day moving average price is $88.23 and its 200-day moving average price is $89.79. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.71 and a beta of 0.46. Zimmer Biomet Holdings, Inc. has a one year low of $79.12 and a one year high of $108.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $1.81 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current fiscal year.
Zimmer Biomet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, June 25th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 24.94%.
About Zimmer Biomet
Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.
The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.
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