Truist Financial Corp Cuts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Truist Financial Corp decreased its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,668 shares of the medical equipment provider’s stock after selling 4,189 shares during the period. Truist Financial Corp’s holdings in Zimmer Biomet were worth $2,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth about $25,000. Dunhill Financial LLC increased its stake in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet during the third quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet during the third quarter worth about $35,000. Finally, Kentucky Trust Co purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ZBH shares. Wells Fargo & Company boosted their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Barclays cut their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $104.89 on Thursday. The firm’s 50 day moving average price is $105.81 and its 200-day moving average price is $107.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $133.90. The firm has a market cap of $20.88 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.95 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period last year, the company posted $2.20 EPS. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

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.