Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by City State Bank

City State Bank reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332 shares of the medical equipment provider’s stock after selling 440 shares during the period. City State Bank’s holdings in Zimmer Biomet were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after buying an additional 125,852 shares in the last quarter. Van ECK Associates Corp increased its position in Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Zimmer Biomet by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after purchasing an additional 9,990 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Zimmer Biomet by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,810,770 shares of the medical equipment provider’s stock valued at $196,523,000 after purchasing an additional 154,447 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake 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 valued at $189,161,000 after purchasing an additional 577,320 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZBH. BTIG Research dropped their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Raymond James dropped their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Truist Financial boosted their price target on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Evercore ISI dropped their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Finally, Barclays lowered their target price on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.33.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $105.36 on Tuesday. The company has a market capitalization of $20.97 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.96 and a beta of 1.02. The business’s 50 day moving average is $107.97 and its two-hundred day moving average is $108.00. 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 Holdings, Inc. has a 12-month low of $100.67 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the business posted $1.65 earnings per share. Zimmer Biomet’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s payout ratio is currently 18.25%.

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.