Bangor Savings Bank Acquires New Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bangor Savings Bank bought a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 289 shares of the medical equipment provider’s stock, valued at approximately $31,000.

Several other institutional investors have also recently bought and sold shares of ZBH. Ables Iannone Moore & Associates Inc. bought a new stake in Zimmer Biomet in the 4th quarter valued at approximately $30,000. Crewe Advisors LLC bought a new stake in Zimmer Biomet in the 1st quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Zimmer Biomet in the 2nd quarter valued at approximately $33,000. J.Safra Asset Management Corp lifted its stake in 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 acquiring an additional 235 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Zimmer Biomet in the 2nd quarter valued at approximately $43,000. Institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

ZBH has been the topic of a number of analyst reports. TD Cowen dropped their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Morgan Stanley dropped their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Citigroup dropped their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI dropped their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Finally, Robert W. Baird dropped their price objective on 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $124.53.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $101.77 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The stock’s fifty day moving average price is $109.02 and its two-hundred day moving average price is $113.81. Zimmer Biomet Holdings, Inc. has a one year low of $101.64 and a one year high of $133.90. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. The company 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 period in the prior year, the firm posted $1.82 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) 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.