Wealthspire Advisors LLC Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wealthspire Advisors LLC cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,601 shares of the medical equipment provider’s stock after selling 1,137 shares during the quarter. Wealthspire Advisors LLC’s holdings in Zimmer Biomet were worth $803,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ZBH. Stonebridge Financial Group LLC purchased a new stake in Zimmer Biomet during the fourth quarter worth about $25,000. Dunhill Financial LLC grew its position in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group bought a new stake in shares of Zimmer Biomet in the 3rd quarter worth approximately $35,000. Finally, Kentucky Trust Co bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $39,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Up 1.5 %

Shares of NYSE ZBH opened at $107.54 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $105.83 and a 200-day moving average of $107.44. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.95 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the firm posted $2.20 earnings per share. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is 21.57%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Raymond James dropped their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Stifel Nicolaus lifted their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Truist Financial restated a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $124.15.

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.