Commonwealth Equity Services LLC Trims Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Commonwealth Equity Services LLC decreased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 56,295 shares of the medical equipment provider’s stock after selling 2,214 shares during the period. Commonwealth Equity Services LLC’s holdings in Zimmer Biomet were worth $5,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC grew its position in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet during the third quarter worth about $35,000. Kentucky Trust Co purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth about $39,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several research analyst reports. Barclays cut their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Stifel Nicolaus increased their target price on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Raymond James dropped their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price target for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Finally, Truist Financial reissued a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $124.15.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet Price Performance

ZBH stock opened at $110.79 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The business has a 50 day simple moving average of $106.74 and a 200-day simple moving average of $106.93. The firm has a market capitalization of $22.05 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period last year, the firm earned $2.20 earnings per share. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

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.