Busey Bank Trims Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Busey Bank decreased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,209 shares of the medical equipment provider’s stock after selling 140 shares during the period. Busey Bank’s holdings in Zimmer Biomet were worth $550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares during the period. Van ECK Associates Corp raised its holdings in shares of Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after acquiring an additional 411,163 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock worth $277,357,000 after acquiring an additional 9,990 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Zimmer Biomet by 49.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after acquiring an additional 577,320 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Zimmer Biomet by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after purchasing an additional 4,388 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $110.63 on Friday. The stock has a market cap of $22.02 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.90 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12 month low of $100.67 and a 12 month high of $133.90. The company has a 50 day simple moving average of $107.91 and a two-hundred day simple moving average of $108.22. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. The company had revenue of $1.82 billion for 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 period in the prior year, the company earned $1.65 earnings per share. As a group, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ZBH shares. BTIG Research dropped their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada lifted their price target on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Truist Financial lifted their target price on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $124.11.

About Zimmer Biomet

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.