Sequoia Financial Advisors LLC Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sequoia Financial Advisors LLC trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 92.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,357 shares of the medical equipment provider’s stock after selling 199,840 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Zimmer Biomet were worth $1,728,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ZBH. Atria Investments Inc increased its position in shares of Zimmer Biomet by 60.2% during the third quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock worth $586,000 after acquiring an additional 2,041 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet during the third quarter worth about $28,000. Oppenheimer & Co. Inc. increased its position in shares of Zimmer Biomet by 8.6% during the third quarter. Oppenheimer & Co. Inc. now owns 24,995 shares of the medical equipment provider’s stock worth $2,698,000 after acquiring an additional 1,977 shares during the last quarter. KBC Group NV increased its position in shares of Zimmer Biomet by 64.0% during the third quarter. KBC Group NV now owns 25,287 shares of the medical equipment provider’s stock worth $2,730,000 after acquiring an additional 9,864 shares during the last quarter. Finally, Metis Global Partners LLC increased its holdings in Zimmer Biomet by 6.0% in the third quarter. Metis Global Partners LLC now owns 11,885 shares of the medical equipment provider’s stock valued at $1,283,000 after buying an additional 671 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZBH has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Stifel Nicolaus boosted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada lowered their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Truist Financial reissued a “hold” rating and issued a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, Barclays lowered their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.15.

Insiders Place Their Bets

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet Stock Performance

ZBH opened at $110.10 on Friday. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $133.90. The business has a 50 day moving average price of $105.83 and a two-hundred day moving average price of $107.03.

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

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

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.