First National Bank & Trust Co. of Newtown Cuts Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

First National Bank & Trust Co. of Newtown reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,989 shares of the medical equipment provider’s stock after selling 158 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Zimmer Biomet were worth $364,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Schechter Investment Advisors LLC boosted its holdings in shares of Zimmer Biomet by 21.6% during the 3rd quarter. Schechter Investment Advisors LLC now owns 4,241 shares of the medical equipment provider’s stock worth $476,000 after purchasing an additional 752 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Zimmer Biomet by 5.9% during the third quarter. Atria Wealth Solutions Inc. now owns 20,566 shares of the medical equipment provider’s stock worth $2,312,000 after buying an additional 1,144 shares during the period. International Assets Investment Management LLC boosted its position in shares of Zimmer Biomet by 11,244.9% during the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock worth $8,146,000 after buying an additional 66,345 shares during the period. Amalgamated Bank boosted its position in shares of Zimmer Biomet by 3.0% during the third quarter. Amalgamated Bank now owns 56,166 shares of the medical equipment provider’s stock worth $6,303,000 after buying an additional 1,631 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Zimmer Biomet by 37.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock worth $18,981,000 after buying an additional 42,539 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ZBH shares. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 23rd. Raymond James increased their price objective on Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Evercore ISI increased their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, StockNews.com cut Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $139.39.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded up $0.03 during midday trading on Friday, reaching $119.36. 373,610 shares of the company were exchanged, compared to its average volume of 1,468,739. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The stock has a fifty day simple moving average of $126.39 and a 200 day simple moving average of $119.10. The stock has a market cap of $24.52 billion, a P/E ratio of 24.42, a PEG ratio of 2.23 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company posted $1.88 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 19.63%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by corporate 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.