Raymond James & Associates Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Raymond James & Associates lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,931 shares of the medical equipment provider’s stock after selling 21,174 shares during the quarter. Raymond James & Associates’ holdings in Zimmer Biomet were worth $9,384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after acquiring an additional 1,215,935 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after acquiring an additional 211,637 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Zimmer Biomet by 5.3% in the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after acquiring an additional 167,038 shares during the last quarter. Finally, Boston Partners lifted its position in Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after buying an additional 691,191 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $103.88 on Wednesday. The firm has a market capitalization of $21.37 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.88 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. 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 business’s 50-day simple moving average is $107.29 and its 200-day simple moving average is $111.04.

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

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued 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 0.92%. Zimmer Biomet’s payout ratio is currently 20.78%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ZBH shares. Wolfe Research began coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. UBS Group decreased their price objective on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Evercore ISI cut their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price target on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $123.94.

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.