Crowley Wealth Management Inc. Sells 1,490 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Crowley Wealth Management Inc. decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,350 shares of the medical equipment provider’s stock after selling 1,490 shares during the period. Crowley Wealth Management Inc.’s holdings in Zimmer Biomet were worth $606,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Thomasville National Bank lifted its stake in Zimmer Biomet by 6.0% during the first quarter. Thomasville National Bank now owns 102,752 shares of the medical equipment provider’s stock worth $11,629,000 after purchasing an additional 5,783 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Zimmer Biomet by 34.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 13,956 shares of the medical equipment provider’s stock worth $1,580,000 after purchasing an additional 3,554 shares during the last quarter. Curbstone Financial Management Corp lifted its stake in Zimmer Biomet by 3.4% during the first quarter. Curbstone Financial Management Corp now owns 4,266 shares of the medical equipment provider’s stock worth $483,000 after purchasing an additional 140 shares during the last quarter. CX Institutional lifted its stake in Zimmer Biomet by 7.4% during the first quarter. CX Institutional now owns 2,510 shares of the medical equipment provider’s stock worth $284,000 after purchasing an additional 174 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Zimmer Biomet by 0.7% during the first quarter. Assenagon Asset Management S.A. now owns 28,692 shares of the medical equipment provider’s stock worth $3,247,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Down 1.0%

Shares of NYSE:ZBH opened at $93.30 on Friday. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The company has a market cap of $18.46 billion, a PE ratio of 20.97, a P/E/G ratio of 1.95 and a beta of 0.72. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The stock’s 50-day moving average is $96.71 and its 200 day moving average is $103.70.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the business earned $1.94 EPS. Zimmer Biomet’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.03%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.24%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZBH shares. Wells Fargo & Company dropped their price target on Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Truist Financial set a $101.00 target price on Zimmer Biomet in a research note on Tuesday, May 6th. BTIG Research reissued a “buy” rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Finally, Robert W. Baird lowered their target price on Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.53.

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.