Thrivent Financial for Lutherans Decreases Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Thrivent Financial for Lutherans lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 911,644 shares of the medical equipment provider’s stock after selling 32,660 shares during the period. Thrivent Financial for Lutherans owned about 0.45% of Zimmer Biomet worth $98,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares during the last quarter. American Century Companies Inc. raised its position in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Zimmer Biomet by 6.7% in the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares in the last quarter. Van ECK Associates Corp boosted its position in Zimmer Biomet by 5.3% during the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after acquiring an additional 167,038 shares during the last quarter. Finally, Boston Partners grew its stake in Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial restated a “hold” rating and set a $112.00 target price (down from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Citigroup dropped their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Raymond James reduced their price target on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. UBS Group dropped their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Finally, Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $125.17.

Zimmer Biomet Price Performance

ZBH opened at $106.42 on Friday. The stock’s 50-day moving average price is $109.83 and its 200 day moving average price is $115.46. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $133.90. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.96 and a beta of 1.02. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly 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 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 earnings per share. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is 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.