Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 14.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 85,100 shares of the medical equipment provider’s stock after selling 14,000 shares during the period. Forsta AP Fonden’s holdings in Zimmer Biomet were worth $9,236,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $26,000. Crewe Advisors LLC acquired a new position in Zimmer Biomet during the 1st quarter worth $31,000. Ables Iannone Moore & Associates Inc. acquired a new position in Zimmer Biomet during the 4th quarter worth $30,000. J.Safra Asset Management Corp increased its holdings in 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 worth $35,000 after purchasing an additional 235 shares during the period. Finally, Family Firm Inc. acquired a new stake in Zimmer Biomet in the 2nd quarter valued at about $33,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

ZBH stock opened at $106.26 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $21.64 billion, a P/E ratio of 23.00, a PEG ratio of 1.92 and a beta of 1.02. The business has a 50 day simple moving average of $109.90 and a 200-day simple moving average of $116.16. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. Zimmer Biomet’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI restated an “in-line” rating and set a $113.00 target price on shares of Zimmer Biomet in a research note on Thursday, September 5th. Truist Financial reissued a “hold” rating and issued a $112.00 price objective (down from $117.00) on shares of Zimmer Biomet in a research report on Friday. Barclays decreased 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. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Tuesday, May 21st. Finally, Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price target for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.44.

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.