Grandfield & Dodd LLC Lowers Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Grandfield & Dodd LLC lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 45,870 shares of the medical equipment provider’s stock after selling 2,075 shares during the quarter. Grandfield & Dodd LLC’s holdings in Zimmer Biomet were worth $5,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. OneDigital Investment Advisors LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth approximately $269,000. Keybank National Association OH raised its stake in shares of Zimmer Biomet by 61.2% during the first quarter. Keybank National Association OH now owns 14,315 shares of the medical equipment provider’s stock worth $1,620,000 after purchasing an additional 5,434 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of Zimmer Biomet by 20.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,605 shares of the medical equipment provider’s stock worth $295,000 after purchasing an additional 435 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Zimmer Biomet by 26.4% during the first quarter. Envestnet Asset Management Inc. now owns 316,308 shares of the medical equipment provider’s stock worth $35,800,000 after purchasing an additional 66,114 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Zimmer Biomet by 10.8% during the fourth quarter. Stifel Financial Corp now owns 96,032 shares of the medical equipment provider’s stock worth $10,144,000 after purchasing an additional 9,341 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 0.1%

Zimmer Biomet stock opened at $93.99 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71. The stock’s fifty day moving average is $93.31 and its two-hundred day moving average is $101.13.

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, beating analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS 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. Investors of record on Thursday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s payout ratio is currently 21.24%.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several analyst reports. Truist Financial set a $101.00 price target on Zimmer Biomet in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped their price objective on Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, May 12th. Wells Fargo & Company dropped their price objective on Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Royal Bank Of Canada dropped their price objective on Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group dropped their price objective on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.39.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 1,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the insider owned 20,424 shares of the company’s stock, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

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.