Horizon Bancorp Inc. IN Trims Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Horizon Bancorp Inc. IN lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,331 shares of the medical equipment provider’s stock after selling 127 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Zimmer Biomet were worth $141,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BLB&B Advisors LLC lifted its position in shares of Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock worth $529,000 after purchasing an additional 100 shares during the last quarter. FWG Holdings LLC lifted its holdings in Zimmer Biomet by 2.9% during the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after buying an additional 101 shares in the last quarter. Financial Advocates Investment Management boosted its position in Zimmer Biomet by 3.5% in the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after buying an additional 103 shares during the period. M&R Capital Management Inc. increased its position in shares of Zimmer Biomet by 14.1% during the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock worth $92,000 after acquiring an additional 105 shares during the period. Finally, Mill Creek Capital Advisors LLC raised its stake in shares of Zimmer Biomet by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ZBH shares. BTIG Research reduced their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Barclays dropped their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada upped their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Evercore ISI cut their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Finally, Raymond James lowered their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Two investment 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $123.33.

Zimmer Biomet Trading Up 0.8 %

ZBH opened at $105.36 on Tuesday. Zimmer Biomet Holdings, Inc. has a 1-year low of $100.67 and a 1-year high of $133.90. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company’s 50 day simple moving average is $107.97 and its two-hundred day simple moving average is $108.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $1.65 EPS. The firm’s quarterly revenue 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.91%. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

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.