Daymark Wealth Partners LLC Sells 304 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Daymark Wealth Partners LLC lessened its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,032 shares of the medical equipment provider’s stock after selling 304 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Zimmer Biomet were worth $796,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in Zimmer Biomet by 398.7% in the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock valued at $369,469,000 after purchasing an additional 2,796,372 shares during the period. Norges Bank acquired a new stake in Zimmer Biomet in the fourth quarter valued at $216,223,000. Dodge & Cox increased its holdings in Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares during the period. Nuveen Asset Management LLC increased its position in Zimmer Biomet by 191.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider’s stock valued at $146,763,000 after purchasing an additional 913,310 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $81,447,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH opened at $94.85 on Wednesday. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The business’s fifty day moving average is $97.20 and its 200 day moving average is $103.88. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $18.77 billion, a P/E ratio of 21.32, a P/E/G ratio of 1.95 and a beta of 0.72.

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

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.24%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JMP Securities decreased their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 7th. BTIG Research reissued a “buy” rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group reduced their price objective on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Finally, Truist Financial set a $101.00 price objective on shares of Zimmer Biomet in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.