Federated Hermes Inc. Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Federated Hermes Inc. lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 36.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 146,955 shares of the medical equipment provider’s stock after selling 84,639 shares during the period. Federated Hermes Inc.’s holdings in Zimmer Biomet were worth $15,949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. OLD Point Trust & Financial Services N A purchased a new position in Zimmer Biomet during the 4th quarter valued at about $26,000. Crewe Advisors LLC purchased a new stake in Zimmer Biomet in the 1st quarter valued at approximately $31,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $30,000. J.Safra Asset Management Corp grew 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 valued at $35,000 after buying an additional 235 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in Zimmer Biomet during the second quarter worth $33,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $107.38 on Tuesday. The firm has a fifty day simple moving average of $109.92 and a 200-day simple moving average of $115.91. The company has a market capitalization of $22.09 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

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

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of analyst reports. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Tuesday, May 21st. Evercore ISI reiterated an “in-line” rating and set a $113.00 price target on shares of Zimmer Biomet in a report on Thursday, September 5th. Raymond James reduced their price objective on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group started coverage on Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price target for the company. Finally, Oppenheimer lowered their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $125.17.

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.