Greenleaf Trust Lowers Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Greenleaf Trust lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.8% in the fourth quarter, Holdings Channel reports. The firm owned 5,119 shares of the medical equipment provider’s stock after selling 1,260 shares during the period. Greenleaf Trust’s holdings in Zimmer Biomet were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZBH. PFG Advisors grew its stake in shares of Zimmer Biomet by 4.6% in the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock worth $231,000 after purchasing an additional 84 shares in the last quarter. Quent Capital LLC grew its stake in shares of Zimmer Biomet by 21.6% in the fourth quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 92 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Zimmer Biomet by 5.0% in the third quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock worth $227,000 after purchasing an additional 97 shares in the last quarter. Financial Advocates Investment Management grew its stake in shares of Zimmer Biomet by 3.8% in the third quarter. Financial Advocates Investment Management now owns 2,625 shares of the medical equipment provider’s stock worth $295,000 after purchasing an additional 97 shares in the last quarter. Finally, Stokes Family Office LLC grew its stake in shares of Zimmer Biomet by 4.1% in the third quarter. Stokes Family Office LLC now owns 2,498 shares of the medical equipment provider’s stock worth $280,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZBH. Canaccord Genuity Group restated a “hold” rating and issued a $130.00 price objective on shares of Zimmer Biomet in a report on Friday, February 23rd. StockNews.com lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Citigroup upped their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Barclays upped their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. Finally, Truist Financial upped their price objective on Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $139.39.

Insiders Place Their Bets

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Zimmer Biomet Stock Performance

ZBH stock opened at $120.78 on Tuesday. The firm has a 50 day simple moving average of $126.23 and a 200 day simple moving average of $119.37. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $149.25. The stock has a market cap of $24.82 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business posted $1.88 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 19.63%.

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.