Empirical Finance LLC Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Empirical Finance LLC lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,024 shares of the medical equipment provider’s stock after selling 487 shares during the quarter. Empirical Finance LLC’s holdings in Zimmer Biomet were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ZBH. OLD Point Trust & Financial Services N A bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $26,000. Crewe Advisors LLC bought a new stake in shares of Zimmer Biomet during the 1st quarter valued at $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $30,000. J.Safra Asset Management Corp raised its position in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the period. Finally, Family Firm Inc. bought a new stake in shares of Zimmer Biomet during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 0.7 %

NYSE:ZBH opened at $115.46 on Friday. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The firm has a market cap of $23.51 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.06 and a beta of 1.01. The firm has a 50-day simple moving average of $109.76 and a 200-day simple moving average of $117.37.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. Zimmer Biomet’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.82 EPS. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.06 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ZBH shares. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, August 8th. Oppenheimer lowered their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $115.00 in a research report on Monday, July 1st. Finally, Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.41.

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.