CNB Bank Cuts Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

CNB Bank lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 25.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 296 shares of the medical equipment provider’s stock after selling 100 shares during the period. CNB Bank’s holdings in Zimmer Biomet were worth $32,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ZBH. Price T Rowe Associates Inc. MD raised its holdings in shares of Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares during the period. American Century Companies Inc. lifted its position in shares of Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares during the last quarter. Boston Partners grew its stake in shares of Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after acquiring an additional 691,191 shares during the period. Magnetar Financial LLC increased its holdings in Zimmer Biomet by 58.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after acquiring an additional 484,816 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Zimmer Biomet by 329.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after acquiring an additional 375,929 shares during the period. Institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZBH. UBS Group reduced their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. dropped their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada decreased their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Finally, Robert W. Baird dropped their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.94.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $106.31 on Monday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The firm’s fifty day moving average price is $108.11 and its 200-day moving average price is $112.19. The stock has a market cap of $21.87 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results 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 return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

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

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.