Cary Street Partners Asset Management LLC Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cary Street Partners Asset Management LLC reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.5% during the fourth quarter, Holdings Channel reports. The firm owned 7,035 shares of the medical equipment provider’s stock after selling 255 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Zimmer Biomet were worth $856,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Naples Money Management LLC purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at about $35,000. Activest Wealth Management lifted its stake in shares of Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 275 shares during the period. Peoples Bank KS bought a new position in Zimmer Biomet in the third quarter worth $48,000. Blue Trust Inc. lifted its position in Zimmer Biomet by 48.4% during the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 153 shares during the period. Finally, Quent Capital LLC lifted its position in Zimmer Biomet by 21.6% during the fourth quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 92 shares during the period. 88.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Zimmer Biomet Stock Down 0.6 %

Shares of NYSE:ZBH opened at $119.56 on Thursday. The firm has a market capitalization of $24.56 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.03. The business has a 50 day simple moving average of $125.65 and a two-hundred day simple moving average of $119.91. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company posted $1.89 EPS. Zimmer Biomet’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.08 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. Zimmer Biomet’s payout ratio is 19.63%.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Raymond James raised their price target on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Canaccord Genuity Group reiterated a “hold” rating and issued a $130.00 price objective on shares of Zimmer Biomet in a report on Friday, February 23rd. Truist Financial increased their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Barclays lifted their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $139.39.

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.