Verdence Capital Advisors LLC Sells 102 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Verdence Capital Advisors LLC lessened its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,007 shares of the medical equipment provider’s stock after selling 102 shares during the period. Verdence Capital Advisors LLC’s holdings in Zimmer Biomet were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. M&G Plc bought a new position in Zimmer Biomet during the 1st quarter worth approximately $7,397,000. Gradient Investments LLC boosted its position in Zimmer Biomet by 17.3% during the second quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock valued at $14,147,000 after acquiring an additional 19,224 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Zimmer Biomet by 7.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock worth $30,265,000 after acquiring an additional 15,548 shares during the period. National Pension Service raised its position in shares of Zimmer Biomet by 3.8% in the 3rd quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after acquiring an additional 13,612 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Zimmer Biomet during the 1st quarter valued at about $2,740,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Performance

ZBH stock opened at $109.95 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a market cap of $21.89 billion, a PE ratio of 20.90, a P/E/G ratio of 1.99 and a beta of 1.02. The business has a 50 day moving average of $106.26 and a 200-day moving average of $110.25. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s payout ratio is 18.25%.

Analysts Set New Price Targets

Several brokerages have issued reports on ZBH. Royal Bank of Canada boosted their price target on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Canaccord Genuity Group dropped their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. BTIG Research decreased their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Robert W. Baird cut their price target 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 investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $124.11.

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.