Costello Asset Management INC Sells 8,618 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Costello Asset Management INC cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 32.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,559 shares of the medical equipment provider’s stock after selling 8,618 shares during the quarter. Zimmer Biomet makes up 1.3% of Costello Asset Management INC’s portfolio, making the stock its 28th largest holding. Costello Asset Management INC’s holdings in Zimmer Biomet were worth $1,895,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd lifted its holdings in Zimmer Biomet by 36.3% during the 3rd quarter. Covestor Ltd now owns 1,088 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 290 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of Zimmer Biomet by 95.2% in the third quarter. Mesirow Financial Investment Management Inc. now owns 5,254 shares of the medical equipment provider’s stock valued at $567,000 after acquiring an additional 2,563 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Zimmer Biomet by 60.2% in the 3rd quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock worth $586,000 after acquiring an additional 2,041 shares in the last quarter. Rovin Capital UT ADV grew its position in Zimmer Biomet by 19.1% during the 3rd quarter. Rovin Capital UT ADV now owns 6,426 shares of the medical equipment provider’s stock worth $694,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Philip James Wealth Mangement LLC bought a new position in Zimmer Biomet in the 3rd quarter valued at $305,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 0.5 %

Shares of NYSE ZBH opened at $108.18 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $101.47 and a 52-week high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The stock has a market cap of $21.54 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.99 and a beta of 1.02. The firm has a 50 day moving average price of $106.37 and a 200 day moving average price of $110.48.

Zimmer Biomet (NYSE:ZBH) last announced 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 company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. Analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several research analyst reports. Robert W. Baird decreased their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Truist Financial raised their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Oppenheimer reduced their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley decreased their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, BTIG Research dropped their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average target price of $124.11.

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.