Independence Bank of Kentucky Sells 1,740 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Independence Bank of Kentucky trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 17.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,164 shares of the medical equipment provider’s stock after selling 1,740 shares during the quarter. Independence Bank of Kentucky’s holdings in Zimmer Biomet were worth $994,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ZBH. Vanguard Group Inc. lifted its position in shares of Zimmer Biomet by 19.0% during the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after purchasing an additional 3,695,510 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Zimmer Biomet by 92,041.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider’s stock worth $234,842,000 after purchasing an additional 1,839,899 shares during the last quarter. Norges Bank bought a new stake in shares of Zimmer Biomet during the fourth quarter worth $231,471,000. Morgan Stanley raised its holdings in shares of Zimmer Biomet by 80.5% in the fourth quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider’s stock valued at $395,560,000 after acquiring an additional 1,384,068 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Zimmer Biomet by 657.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,393,963 shares of the medical equipment provider’s stock valued at $177,730,000 after acquiring an additional 1,209,827 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $130.01 on Thursday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $149.25. The firm has a market capitalization of $26.71 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. The stock’s 50-day simple moving average is $126.09 and its 200-day simple moving average is $118.36.

Zimmer Biomet (NYSE:ZBHGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.74%. Zimmer Biomet’s dividend payout ratio is currently 19.63%.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares in the company, valued at $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.95% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ZBH. JPMorgan Chase & Co. lifted their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 9th. Barclays lifted their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Finally, TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $139.11.

View Our Latest Analysis on ZBH

Zimmer Biomet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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