Cary Street Partners Asset Management LLC Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cary Street Partners Asset Management LLC lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,035 shares of the medical equipment provider’s stock after selling 255 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Zimmer Biomet were worth $856,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ZBH. Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at about $35,000. Activest Wealth Management lifted its stake in Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. Peoples Bank KS purchased a new position in shares of Zimmer Biomet during the third quarter worth $48,000. Blue Trust Inc. grew its stake in shares of Zimmer Biomet by 48.4% in the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 153 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in Zimmer Biomet by 21.6% during the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 92 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Citigroup boosted their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 9th. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Raymond James upped their price target on Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Finally, Barclays boosted their price target on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $139.39.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.95% of the company’s stock.

Zimmer Biomet Trading Down 0.6 %

NYSE ZBH opened at $119.56 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $125.65 and a 200 day moving average price of $119.91. The stock has a market capitalization of $24.56 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.21 and a beta of 1.03. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $149.25.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned $1.89 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.08 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is 19.63%.

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.