Meyer Handelman Co. Decreases Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Meyer Handelman Co. reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,745 shares of the medical equipment provider’s stock after selling 3,795 shares during the period. Meyer Handelman Co.’s holdings in Zimmer Biomet were worth $4,385,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $25,000. Menard Financial Group LLC purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $30,000. Accredited Wealth Management LLC purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $36,000. Kentucky Trust Co purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $39,000. Finally, OFI Invest Asset Management purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $40,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Down 1.3%

NYSE:ZBH opened at $92.12 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The firm has a market capitalization of $18.23 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. Zimmer Biomet Holdings, Inc. has a one year low of $89.92 and a one year high of $116.71. The business has a fifty day moving average price of $99.99 and a 200-day moving average price of $104.80.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. Zimmer Biomet’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 EPS. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.04%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.24%.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This trade represents a 14.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ZBH. Royal Bank of Canada decreased their price objective on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the company a “buy” rating in a report on Tuesday, May 6th. Barclays lowered their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Truist Financial set a $101.00 price target on Zimmer Biomet in a report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $111.53.

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.