Cannell & Co. Lowers Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cannell & Co. reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,314 shares of the medical equipment provider’s stock after selling 2,520 shares during the quarter. Cannell & Co.’s holdings in Zimmer Biomet were worth $2,959,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Arnhold LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at approximately $1,118,000. Waycross Partners LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth about $1,217,000. Brighton Jones LLC acquired a new position in shares of Zimmer Biomet during the 4th quarter worth about $221,000. Van ECK Associates Corp lifted its stake in Zimmer Biomet by 23.7% in the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after buying an additional 543,344 shares in the last quarter. Finally, Greatmark Investment Partners Inc. boosted its holdings in Zimmer Biomet by 6.7% in the 4th quarter. Greatmark Investment Partners Inc. now owns 14,740 shares of the medical equipment provider’s stock worth $1,794,000 after buying an additional 930 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Trading Down 0.6 %

Shares of ZBH stock opened at $119.56 on Thursday. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $149.25. The firm has a market cap of $24.56 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.03. The company has a 50-day moving average of $125.65 and a two-hundred day moving average of $119.91. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.08 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.80%. The ex-dividend date was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is currently 19.63%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James increased their target price on Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Barclays upped their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. StockNews.com cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Evercore ISI raised their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. upped their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $139.39.

Insider Activity at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

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.