Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 22.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,420 shares of the medical equipment provider’s stock after selling 1,823 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Zimmer Biomet were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock valued at $485,000 after purchasing an additional 102 shares during the period. M&T Bank Corp raised its position in Zimmer Biomet by 0.4% during the fourth quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock worth $2,834,000 after acquiring an additional 108 shares during the period. MGO One Seven LLC raised its position in Zimmer Biomet by 5.1% during the fourth quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 110 shares during the period. Janney Montgomery Scott LLC raised its position in Zimmer Biomet by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 25,647 shares of the medical equipment provider’s stock worth $2,903,000 after acquiring an additional 118 shares during the period. Finally, FWG Holdings LLC raised its position in Zimmer Biomet by 3.5% during the fourth quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider’s stock worth $402,000 after acquiring an additional 124 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ZBH shares. BTIG Research restated a “buy” rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Wells Fargo & Company reduced their price objective on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $111.53.

Zimmer Biomet Stock Performance

ZBH stock opened at $92.79 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The stock has a market capitalization of $18.36 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.13 and a beta of 0.72. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The stock’s fifty day moving average is $94.89 and its two-hundred day moving average is $102.50.

Zimmer Biomet (NYSE:ZBH) last posted its 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 12.73% and a net margin of 11.86%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business posted $1.94 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts predict 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. Investors of record on Thursday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet’s payout ratio is currently 21.24%.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider now directly owns 20,424 shares in the company, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.39% of the stock is owned by corporate insiders.

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.