Massachusetts Financial Services Co. MA Sells 10,113 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,001,829 shares of the medical equipment provider’s stock after selling 10,113 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.49% of Zimmer Biomet worth $108,729,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Chicago Partners Investment Group LLC lifted its holdings in shares of Zimmer Biomet by 3.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after purchasing an additional 92 shares in the last quarter. North Star Investment Management Corp. lifted its stake in Zimmer Biomet by 16.6% in the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares in the last quarter. First Bancorp Inc ME lifted its stake in Zimmer Biomet by 5.3% in the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after acquiring an additional 100 shares in the last quarter. Ballentine Partners LLC lifted its stake in Zimmer Biomet by 2.6% in the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 100 shares in the last quarter. Finally, Romano Brothers AND Company lifted its stake in Zimmer Biomet by 1.1% in the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Tuesday. Oppenheimer lowered their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Evercore ISI reaffirmed an “in-line” rating and set a $113.00 price target on shares of Zimmer Biomet in a research report on Thursday, September 5th. Finally, Royal Bank of Canada lowered their price target on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $125.17.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $106.34 on Thursday. 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 $109.92 and its two-hundred day moving average price is $115.72. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The firm has a market cap of $21.66 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $1.82 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Announces Dividend

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 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 0.90%. Zimmer Biomet’s payout ratio is 20.78%.

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.