KCM Investment Advisors LLC Sells 9,495 Shares of Zimmer Biomet Holdings, Inc. $ZBH

KCM Investment Advisors LLC lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 56.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,275 shares of the medical equipment provider’s stock after selling 9,495 shares during the period. KCM Investment Advisors LLC’s holdings in Zimmer Biomet were worth $658,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Dodge & Cox lifted its stake in Zimmer Biomet by 1.3% in the fourth quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider’s stock worth $2,113,736,000 after purchasing an additional 290,676 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Zimmer Biomet by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider’s stock valued at $2,111,658,000 after buying an additional 192,517 shares during the last quarter. State Street Corp grew its stake in shares of Zimmer Biomet by 2.3% during the fourth quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider’s stock valued at $795,814,000 after buying an additional 195,214 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock worth $601,204,000 after buying an additional 2,017,857 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Zimmer Biomet by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,233,834 shares of the medical equipment provider’s stock worth $468,821,000 after buying an additional 36,611 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

ZBH has been the subject of several analyst reports. Stifel Nicolaus dropped their target price on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Barclays decreased their price target on Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 29th. BMO Capital Markets started coverage on Zimmer Biomet in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $95.00 price objective for the company. UBS Group began coverage on Zimmer Biomet in a research note on Tuesday. They set a “buy” rating and a $115.00 price objective for the company. Finally, Canaccord Genuity Group set a $83.00 target price on shares of Zimmer Biomet in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.00.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the transaction, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $95.57 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $88.23 and a 200-day moving average of $89.79. The firm has a market cap of $18.49 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.71 and a beta of 0.46. Zimmer Biomet Holdings, Inc. has a 1-year low of $79.12 and a 1-year high of $108.29.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the firm earned $1.81 earnings per share. Zimmer Biomet’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.48 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, June 25th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 25th. This represents a $0.96 annualized dividend and a yield of 1.0%. Zimmer Biomet’s dividend payout ratio (DPR) is 24.94%.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.