Brookstone Capital Management Sells 122 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brookstone Capital Management reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,594 shares of the medical equipment provider’s stock after selling 122 shares during the period. Brookstone Capital Management’s holdings in Zimmer Biomet were worth $870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZBH. First Bancorp Inc ME boosted its holdings in Zimmer Biomet by 5.3% during the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after purchasing an additional 100 shares during the last quarter. Factory Mutual Insurance Co. purchased a new position in Zimmer Biomet during the first quarter worth about $10,862,000. Global Assets Advisory LLC purchased a new position in Zimmer Biomet during the first quarter worth about $1,712,000. Ballentine Partners LLC boosted its holdings in Zimmer Biomet by 2.6% during the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 100 shares during the last quarter. Finally, Bridge Creek Capital Management LLC boosted its holdings in Zimmer Biomet by 1.6% during the first quarter. Bridge Creek Capital Management LLC now owns 25,300 shares of the medical equipment provider’s stock worth $3,339,000 after purchasing an additional 405 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays dropped their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Oppenheimer upped their target price on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Tuesday, May 21st. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Finally, The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $133.75.

Zimmer Biomet Stock Performance

ZBH opened at $108.53 on Friday. The firm’s 50-day moving average price is $115.29 and its 200-day moving average price is $121.20. The company has a market cap of $22.33 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $147.50.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. Zimmer Biomet’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.