Federated Hermes Inc. Sells 84,639 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Federated Hermes Inc. cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 36.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,955 shares of the medical equipment provider’s stock after selling 84,639 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Zimmer Biomet worth $15,949,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its stake in shares of Zimmer Biomet by 3.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares during the period. North Star Investment Management Corp. grew its stake in Zimmer Biomet by 16.6% in the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 95 shares during the last quarter. First Bancorp Inc ME grew its position in shares of Zimmer Biomet by 5.3% in the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC increased its position in shares of 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 in the last quarter. Finally, Romano Brothers AND Company raised its stake in Zimmer Biomet by 1.1% in the first quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after buying an additional 100 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH opened at $107.38 on Tuesday. The firm has a market capitalization of $22.09 billion, a PE ratio of 23.24, a P/E/G ratio of 1.92 and a beta of 1.02. The stock’s 50 day moving average is $109.92 and its two-hundred day moving average is $115.91. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.82 earnings per share. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Analysts Set New Price Targets

ZBH has been the subject of a number of recent research reports. UBS Group reduced their price objective on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Robert W. Baird cut their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen decreased their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Barclays dropped their price target on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Finally, Oppenheimer reduced their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $125.17.

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.