Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 12.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the medical equipment provider’s stock after selling 288 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Zimmer Biomet were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new stake in Zimmer Biomet during the 4th quarter valued at $1,335,000. B. Riley Wealth Advisors Inc. raised its stake in Zimmer Biomet by 4.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,414 shares of the medical equipment provider’s stock valued at $416,000 after acquiring an additional 141 shares in the last quarter. Ballentine Partners LLC raised its stake in Zimmer Biomet by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 100 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Zimmer Biomet during the 1st quarter valued at $1,712,000. Finally, First Bancorp Inc ME raised its stake in Zimmer Biomet by 5.3% during the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. UBS Group dropped their price objective on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Oppenheimer dropped their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada dropped 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, Evercore ISI dropped their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.94.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $105.20 on Tuesday. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The business’s 50-day moving average price is $108.07 and its two-hundred day moving average price is $112.03. The company has a market capitalization of $21.64 billion, a P/E ratio of 22.77, 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 current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping 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 company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.97 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business 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 $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s dividend 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.