Fifth Third Bancorp Sells 455 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Fifth Third Bancorp trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,095 shares of the medical equipment provider’s stock after selling 455 shares during the quarter. Fifth Third Bancorp’s holdings in Zimmer Biomet were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after acquiring an additional 125,852 shares during the last quarter. M&T Bank Corp lifted its position in shares of Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after purchasing an additional 8,709 shares in the last quarter. Peddock Capital Advisors LLC bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $654,000. National Pension Service increased its holdings in shares of Zimmer Biomet by 3.8% in the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock valued at $39,893,000 after purchasing an additional 13,612 shares in the last quarter. Finally, River Global Investors LLP raised its position in Zimmer Biomet by 31.3% in the 3rd quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after purchasing an additional 5,030 shares during 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 subject of several research reports. Wells Fargo & Company lifted their target price on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Oppenheimer lowered their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Stifel Nicolaus upped their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. BTIG Research lowered their price target on shares of 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, JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $124.11.

Zimmer Biomet Price Performance

ZBH stock opened at $112.06 on Wednesday. The stock has a 50-day moving average price of $107.85 and a two-hundred day moving average price of $108.17. Zimmer Biomet Holdings, Inc. has a 1 year low of $100.67 and a 1 year high of $133.90. The stock has a market cap of $22.31 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. 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 posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $1.65 earnings per share. Zimmer Biomet’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, December 30th. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

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.