Deutsche Bank AG Reduces Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Deutsche Bank AG decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 384,055 shares of the medical equipment provider’s stock after selling 13,407 shares during the period. Deutsche Bank AG owned about 0.18% of Zimmer Biomet worth $40,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth about $495,000. UBS Group AG increased its position in shares of Zimmer Biomet by 27.3% in the 2nd quarter. UBS Group AG now owns 422,420 shares of the medical equipment provider’s stock worth $44,379,000 after purchasing an additional 90,609 shares during the last quarter. Capital Asset Advisory Services LLC increased its position in shares of Zimmer Biomet by 46.9% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 3,616 shares of the medical equipment provider’s stock worth $381,000 after purchasing an additional 1,154 shares during the last quarter. Bank of Montreal Can increased its position in shares of Zimmer Biomet by 1.8% in the 2nd quarter. Bank of Montreal Can now owns 190,311 shares of the medical equipment provider’s stock worth $20,940,000 after purchasing an additional 3,435 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its position in shares of Zimmer Biomet by 18.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,367 shares of the medical equipment provider’s stock worth $669,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Zimmer Biomet from $128.00 to $125.00 and set a “sector perform” rating for the company in a research report on Thursday, November 3rd. Barclays assumed coverage on shares of Zimmer Biomet in a research report on Monday, October 17th. They set an “underweight” rating and a $104.00 price objective for the company. Piper Sandler lowered their price objective on shares of Zimmer Biomet from $130.00 to $120.00 in a research report on Tuesday, August 2nd. Jefferies Financial Group assumed coverage on shares of Zimmer Biomet in a research report on Wednesday, October 12th. They set an “underperform” rating and a $95.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Zimmer Biomet from $119.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $124.05.

Zimmer Biomet Trading Up 2.3 %

Shares of NYSE:ZBH opened at $118.01 on Thursday. The company has a 50 day moving average of $110.02 and a 200-day moving average of $110.82. The firm has a market cap of $24.76 billion, a P/E ratio of 89.40, a P/E/G ratio of 2.20 and a beta of 1.08. Zimmer Biomet Holdings, Inc. has a twelve month low of $100.39 and a twelve month high of $135.05. The company has a current ratio of 1.98, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

Zimmer Biomet (NYSE:ZBHGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.02. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. Zimmer Biomet had a net margin of 3.89% and a return on equity of 11.92%. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 EPS. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.84 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Thursday, September 29th. Zimmer Biomet’s dividend payout ratio is presently 72.73%.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

Further Reading

Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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