Creative Planning Cuts Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Creative Planning lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,888 shares of the medical equipment provider’s stock after selling 1,836 shares during the period. Creative Planning’s holdings in Zimmer Biomet were worth $2,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wesbanco Bank Inc. grew its holdings in shares of Zimmer Biomet by 2.5% in the 3rd quarter. Wesbanco Bank Inc. now owns 20,411 shares of the medical equipment provider’s stock worth $2,203,000 after acquiring an additional 489 shares during the period. CX Institutional purchased a new position in shares of Zimmer Biomet during the third quarter valued at approximately $93,000. Wedge Capital Management L L P NC boosted its position in Zimmer Biomet by 14.9% during the third quarter. Wedge Capital Management L L P NC now owns 104,232 shares of the medical equipment provider’s stock worth $11,252,000 after acquiring an additional 13,497 shares during the last quarter. Paladin Wealth LLC acquired a new position in Zimmer Biomet in the 3rd quarter valued at $538,000. Finally, Thomasville National Bank lifted its stake in shares of Zimmer Biomet by 5.6% during the 3rd quarter. Thomasville National Bank now owns 95,410 shares of the medical equipment provider’s stock worth $10,300,000 after purchasing an additional 5,085 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $102.35 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The stock’s 50 day moving average price is $107.61 and its 200 day moving average price is $111.59. The firm has a market capitalization of $21.06 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.94%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Analyst Upgrades and Downgrades

ZBH has been the subject of several analyst reports. Citigroup dropped their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Raymond James decreased their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.94.

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.