Stratos Wealth Partners LTD. Sells 680 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Stratos Wealth Partners LTD. lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,893 shares of the medical equipment provider’s stock after selling 680 shares during the period. Stratos Wealth Partners LTD.’s holdings in Zimmer Biomet were worth $1,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZBH. Dodge & Cox boosted its position in Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock worth $2,019,480,000 after purchasing an additional 2,044,645 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Zimmer Biomet by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider’s stock worth $1,559,147,000 after buying an additional 176,337 shares during the period. Franklin Resources Inc. grew its stake in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock valued at $369,469,000 after buying an additional 2,796,372 shares in the last quarter. Northern Trust Corp raised its holdings in Zimmer Biomet by 7.6% during the 4th quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider’s stock valued at $250,367,000 after acquiring an additional 167,435 shares during the period. Finally, Norges Bank purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $216,223,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $93.88 on Friday. The company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.17 and a beta of 0.71. The business has a 50 day moving average of $93.21 and a 200 day moving average of $101.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. Zimmer Biomet Holdings, Inc. has a 1-year low of $89.22 and a 1-year high of $116.71.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $1.94 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.24%.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the insider directly owned 20,424 shares of the company’s stock, valued at $1,940,280. The trade was a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ZBH shares. Robert W. Baird reduced their price target on Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Truist Financial set a $101.00 target price on Zimmer Biomet in a report on Tuesday, May 6th. Morgan Stanley lowered their price target on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. JMP Securities reduced their price objective on shares of Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada lowered their target price on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $110.00.

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.