Monarch Capital Management Inc. Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Monarch Capital Management Inc. trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,333 shares of the medical equipment provider’s stock after selling 238 shares during the period. Monarch Capital Management Inc.’s holdings in Zimmer Biomet were worth $3,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its position in Zimmer Biomet by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 102 shares during the last quarter. M&T Bank Corp lifted its position in shares of Zimmer Biomet by 0.4% during the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock valued at $2,834,000 after buying an additional 108 shares in the last quarter. MGO One Seven LLC lifted its position in shares of Zimmer Biomet by 5.1% during the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 110 shares in the last quarter. FWG Holdings LLC lifted its position in shares of Zimmer Biomet by 3.5% during the 4th quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider’s stock valued at $402,000 after buying an additional 124 shares in the last quarter. Finally, Erste Asset Management GmbH lifted its position in shares of Zimmer Biomet by 0.3% during the 4th quarter. Erste Asset Management GmbH now owns 41,487 shares of the medical equipment provider’s stock valued at $4,434,000 after buying an additional 124 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $94.85 on Wednesday. The company 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. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The business’s 50 day moving average price is $97.20 and its 200-day moving average price is $103.88. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.22 and a fifty-two week high of $116.71.

Zimmer Biomet (NYSE:ZBH) last released its earnings results 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. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet’s payout ratio is currently 21.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ZBH shares. Raymond James lowered their price objective on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. The Goldman Sachs Group lowered their price objective on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. JMP Securities lowered their price objective on Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating on the stock in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $111.53.

Zimmer Biomet Company Profile

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.