Waldron Private Wealth LLC Sells 239 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Waldron Private Wealth LLC reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,113 shares of the medical equipment provider’s stock after selling 239 shares during the quarter. Waldron Private Wealth LLC’s holdings in Zimmer Biomet were worth $768,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after acquiring an additional 1,215,935 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Zimmer Biomet by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares during the last quarter. Van ECK Associates Corp grew its position in Zimmer Biomet by 5.3% during the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after buying an additional 167,038 shares during the period. Finally, Boston Partners increased its holdings in Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $104.26 on Wednesday. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The business has a 50 day moving average of $107.97 and a 200 day moving average of $111.87. The company has a market capitalization of $21.45 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of research reports. Oppenheimer reduced their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Truist Financial restated a “hold” rating and issued a $112.00 target price (down from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Citigroup lowered their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Morgan Stanley cut their target price 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $123.94.

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.