Greenleaf Trust Sells 1,227 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Greenleaf Trust cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 23.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,045 shares of the medical equipment provider’s stock after selling 1,227 shares during the quarter. Greenleaf Trust’s holdings in Zimmer Biomet were worth $437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in Zimmer Biomet during the first quarter worth about $31,000. Bangor Savings Bank bought a new stake in shares of Zimmer Biomet during the 3rd quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Zimmer Biomet during the 2nd quarter worth approximately $33,000. J.Safra Asset Management Corp increased its stake in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet in the second quarter valued at approximately $43,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $102.35 on Friday. The company has a market cap of $21.06 billion, a P/E ratio of 22.15, a PEG ratio of 1.92 and a beta of 1.02. 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 business has a 50-day moving average price of $107.78 and a two-hundred day moving average price of $111.76. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.94%. Zimmer Biomet’s payout ratio is presently 20.78%.

Analyst Ratings Changes

ZBH has been the topic of a number of research analyst reports. Raymond James reduced their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Canaccord Genuity Group lowered their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Oppenheimer reduced their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $123.94.

Zimmer Biomet Company Profile

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.