Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.1% during the third quarter, Holdings Channel.com reports. The firm owned 1,211,001 shares of the medical equipment provider’s stock after selling 13,561 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Zimmer Biomet were worth $130,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZBH. Ashton Thomas Securities LLC acquired a new position in shares of Zimmer Biomet during the third quarter worth $28,000. Bangor Savings Bank purchased a new stake in Zimmer Biomet during the 3rd quarter worth about $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Zimmer Biomet in the 2nd quarter valued at about $43,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ZBH shares. BTIG Research dropped their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Truist Financial increased their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research assumed coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Finally, Evercore ISI reduced their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average target price of $123.22.

Zimmer Biomet Price Performance

Shares of ZBH opened at $110.96 on Tuesday. The firm has a market capitalization of $22.09 billion, a PE ratio of 21.10, a P/E/G ratio of 2.03 and a beta of 1.02. The stock’s 50 day moving average is $106.86 and its two-hundred day moving average is $109.54. Zimmer Biomet Holdings, Inc. has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38.

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

Zimmer Biomet Announces Dividend

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

Zimmer Biomet 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.