Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 92.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,038 shares of the medical equipment provider’s stock after selling 23,758 shares during the period. Simplify Asset Management Inc.’s holdings in Zimmer Biomet were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after acquiring an additional 1,215,935 shares during the period. American Century Companies Inc. grew its position in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares during the last quarter. Boston Partners increased its stake in Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after buying an additional 691,191 shares during the period. Primecap Management Co. CA raised its position in Zimmer Biomet by 10.5% during the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after buying an additional 484,151 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Zimmer Biomet by 11.3% in the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after acquiring an additional 320,002 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $106.32 on Friday. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $133.90. The business has a 50 day simple moving average of $109.88 and a 200-day simple moving average of $115.65. 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 released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.90%. Zimmer Biomet’s payout ratio is 20.78%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZBH shares. Barclays cut their price objective 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. Citigroup reduced their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $125.17.

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.