Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Position Decreased by Whittier Trust Co.

Whittier Trust Co. reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 77.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610 shares of the medical equipment provider’s stock after selling 2,120 shares during the quarter. Whittier Trust Co.’s holdings in Zimmer Biomet were worth $64,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZBH. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after buying an additional 577,320 shares in the last quarter. Equity Investment Corp grew its holdings in shares of Zimmer Biomet by 57.2% in the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock worth $107,855,000 after acquiring an additional 371,653 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after purchasing an additional 218,688 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at $21,234,000. Finally, FMR LLC boosted its position in shares of Zimmer Biomet by 27.6% in the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after purchasing an additional 162,384 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

NYSE ZBH opened at $111.31 on Tuesday. The company has a market cap of $22.16 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $106.86 and a 200 day simple moving average of $106.86.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the company earned $2.20 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s payout ratio is presently 21.57%.

Analysts Set New Price Targets

A number of research firms have commented on ZBH. Raymond James reduced their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Truist Financial restated a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Barclays cut their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Royal Bank of Canada dropped their price target on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average target price of $124.15.

Insider Buying and Selling

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by company insiders.

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.