Mutual of America Capital Management LLC Reduces Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Mutual of America Capital Management LLC reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,201 shares of the medical equipment provider’s stock after selling 699 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Zimmer Biomet were worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ZBH. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $30,000. Columbia River Financial Group LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth about $30,000. Menard Financial Group LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth about $30,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth about $36,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZBH shares. Roth Capital raised shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. BTIG Research restated a “buy” rating on shares of Zimmer Biomet in a report on Monday, April 14th. Morgan Stanley lowered their target price on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $111.39.

Insider Activity

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

Zimmer Biomet Trading Down 1.8%

Shares of ZBH stock opened at $93.18 on Friday. The stock has a market cap of $18.44 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The firm’s 50 day moving average price is $93.26 and its two-hundred day moving average price is $100.92.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data 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. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.03%. Zimmer Biomet’s dividend payout ratio is currently 21.24%.

Zimmer Biomet Company 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.