Moors & Cabot Inc. Decreases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Moors & Cabot Inc. lessened its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 32.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,481 shares of the medical equipment provider’s stock after selling 1,209 shares during the quarter. Moors & Cabot Inc.’s holdings in Zimmer Biomet were worth $269,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Zimmer Biomet during the fourth quarter worth about $30,000. Crewe Advisors LLC purchased a new position in Zimmer Biomet during the first quarter worth about $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, J.Safra Asset Management Corp grew its stake in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZBH. Robert W. Baird decreased their price objective on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a report on Tuesday. Truist Financial reaffirmed a “hold” rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. Finally, The Goldman Sachs Group initiated coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Stock Up 0.1 %

ZBH stock opened at $106.42 on Friday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The company’s 50 day moving average price is $109.83 and its 200 day moving average price is $115.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.96 and a beta of 1.02.

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, beating analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. On average, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued 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 dividend payout ratio is presently 20.78%.

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.