Cannell & Spears LLC Has $308,000 Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cannell & Spears LLC reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 40.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,915 shares of the medical equipment provider’s stock after selling 1,958 shares during the period. Cannell & Spears LLC’s holdings in Zimmer Biomet were worth $308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC grew its position in Zimmer Biomet by 21.3% during the third quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock valued at $257,000 after purchasing an additional 417 shares in the last quarter. FMR LLC increased its stake in shares of Zimmer Biomet by 27.6% in the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock worth $80,999,000 after acquiring an additional 162,384 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Zimmer Biomet during the third quarter worth $341,000. Public Sector Pension Investment Board boosted its position in Zimmer Biomet by 7.5% during the third quarter. Public Sector Pension Investment Board now owns 8,620 shares of the medical equipment provider’s stock valued at $931,000 after purchasing an additional 600 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Zimmer Biomet in the third quarter valued at about $4,476,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Down 0.8 %

Shares of Zimmer Biomet stock opened at $112.32 on Wednesday. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $130.89. The firm has a market capitalization of $22.36 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. 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 company’s fifty day moving average price is $107.29 and its two-hundred day moving average price is $107.14.

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, topping the consensus estimate 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 period last year, the firm earned $2.20 earnings per share. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Truist Financial reissued a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Raymond James lowered their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $124.15.

Insiders Place Their Bets

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company’s stock.

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.