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

Envestnet Asset Management Inc. cut its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 20.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,947 shares of the medical equipment provider’s stock after selling 37,634 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Zimmer Biomet worth $16,165,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. raised its position in Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after purchasing an additional 211,637 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Zimmer Biomet by 5.3% in the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after purchasing an additional 167,038 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ZBH shares. UBS Group lowered their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Wolfe Research started coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Citigroup decreased their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Robert W. Baird cut their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.17.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $107.85 on Wednesday. The company’s fifty day simple moving average is $109.86 and its 200-day simple moving average is $115.11. 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 Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $133.90. The company has a market cap of $22.19 billion, a PE ratio of 23.34, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 earnings per share. As a group, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Announces Dividend

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

Zimmer Biomet 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.