Summit Investment Advisors Inc. Cuts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Summit Investment Advisors Inc. lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,940 shares of the medical equipment provider’s stock after selling 123 shares during the period. Summit Investment Advisors Inc.’s holdings in Zimmer Biomet were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB lifted its stake in Zimmer Biomet by 7.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 6,196 shares of the medical equipment provider’s stock worth $669,000 after purchasing an additional 442 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Zimmer Biomet by 17.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,404 shares of the medical equipment provider’s stock worth $260,000 after buying an additional 358 shares during the last quarter. GAMMA Investing LLC boosted its stake in Zimmer Biomet by 67.6% in the fourth quarter. GAMMA Investing LLC now owns 2,298 shares of the medical equipment provider’s stock worth $243,000 after buying an additional 927 shares in the last quarter. Central Pacific Bank Trust Division grew its position in Zimmer Biomet by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 14,525 shares of the medical equipment provider’s stock valued at $1,534,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Zimmer Biomet by 3.9% during the fourth quarter. Nordea Investment Management AB now owns 16,333 shares of the medical equipment provider’s stock worth $1,732,000 after acquiring an additional 609 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ZBH shares. Truist Financial reaffirmed a “hold” rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Barclays lowered their target price on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Price Performance

ZBH opened at $97.51 on Wednesday. Zimmer Biomet Holdings, Inc. has a 12-month low of $93.10 and a 12-month high of $123.96. The company has a market cap of $19.29 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $105.82 and a two-hundred day simple moving average of $106.62.

Zimmer Biomet (NYSE:ZBH) last issued 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 net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the previous year, the company posted $2.20 earnings per share. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.98%. Zimmer Biomet’s payout ratio is currently 21.57%.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.