Argent Trust Co Cuts Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Argent Trust Co trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,553 shares of the medical equipment provider’s stock after selling 530 shares during the period. Argent Trust Co’s holdings in Zimmer Biomet were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. boosted its position in shares of Zimmer Biomet by 10.9% in the second quarter. E Fund Management Co. Ltd. now owns 1,917 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 189 shares during the last quarter. Sofinnova Investments Inc. purchased a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $1,154,000. Virtu Financial LLC purchased a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $2,557,000. Edgestream Partners L.P. acquired a new stake in shares of Zimmer Biomet during the second quarter worth approximately $1,674,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Zimmer Biomet during the second quarter worth approximately $19,633,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $106.34 on Thursday. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The firm’s 50-day simple moving average is $109.92 and its 200 day simple moving average is $115.72. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a market cap of $21.66 billion, a P/E 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZBH. Wolfe Research began coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Raymond James decreased their price target on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Tuesday. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Barclays decreased their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.17.

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.