Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 45.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,166 shares of the medical equipment provider’s stock after selling 3,447 shares during the quarter. Bar Harbor Wealth Management’s holdings in Zimmer Biomet were worth $450,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Zimmer Biomet during the 1st quarter worth approximately $31,000. J.Safra Asset Management Corp lifted its position in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the last quarter. Bangor Savings Bank acquired a new position in shares of Zimmer Biomet during the third quarter worth $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet in the second quarter valued at $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Zimmer Biomet in the second quarter valued at $43,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $106.31 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 50-day moving average price of $108.11 and a 200 day moving average price of $112.42. The company has a market cap of $21.87 billion, a P/E ratio of 23.01, a PEG ratio of 1.93 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 earnings per share. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.98 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ZBH shares. Robert W. Baird lowered their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $115.00 in a research report on Monday, July 1st. BTIG Research reduced their price target 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. Finally, Truist Financial reiterated a “hold” rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $123.74.

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.