Probity Advisors Inc. Lowers Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Probity Advisors Inc. lessened its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,085 shares of the medical equipment provider’s stock after selling 116 shares during the period. Probity Advisors Inc.’s holdings in Zimmer Biomet were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $204,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $6,516,000. Aviva PLC grew its holdings in Zimmer Biomet by 103.7% during the fourth quarter. Aviva PLC now owns 122,774 shares of the medical equipment provider’s stock worth $12,969,000 after acquiring an additional 62,507 shares during the period. Envestnet Asset Management Inc. raised its position in Zimmer Biomet by 24.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 250,194 shares of the medical equipment provider’s stock worth $26,428,000 after acquiring an additional 49,821 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Zimmer Biomet by 5,482.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,745 shares of the medical equipment provider’s stock valued at $501,000 after acquiring an additional 4,660 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $92.48 on Tuesday. The company has a 50-day simple moving average of $93.16 and a 200-day simple moving average of $100.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The company has a market cap of $18.30 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.22 and a 12 month high of $116.71.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. Zimmer Biomet’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 earnings per share. On average, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, June 26th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, June 26th. Zimmer Biomet’s dividend payout ratio is presently 21.24%.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider directly owned 20,424 shares of the company’s stock, valued at approximately $1,940,280. This trade represents a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ZBH shares. Wells Fargo & Company cut their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Evercore ISI dropped their target price on shares of Zimmer Biomet from $102.00 to $96.00 and set an “in-line” rating for the company in a report on Tuesday, July 8th. Roth Capital raised Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, July 15th. Raymond James Financial lowered their price target on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Finally, Truist Financial set a $101.00 price objective on Zimmer Biomet in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $111.39.

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.