Indiana Trust & Investment Management CO cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,920 shares of the medical equipment provider’s stock after selling 200 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Zimmer Biomet were worth $307,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Red Spruce Capital LLC boosted its stake in Zimmer Biomet by 4.7% during the first quarter. Red Spruce Capital LLC now owns 3,712 shares of the medical equipment provider’s stock valued at $594,000 after buying an additional 167 shares during the period. Legacy Wealth Asset Management LLC bought a new stake in Zimmer Biomet during the fourth quarter worth about $438,000. Curi Capital bought a new stake in Zimmer Biomet during the fourth quarter worth about $152,000. Valley Brook Capital Group bought a new stake in Zimmer Biomet during the fourth quarter worth about $105,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Zimmer Biomet during the fourth quarter worth about $508,000. Institutional investors own 87.17% of the company’s stock.
Several equities research analysts have issued reports on ZBH shares. Argus lifted their price target on Zimmer Biomet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, December 24th. Raymond James lifted their price objective on Zimmer Biomet from $170.00 to $187.00 and gave the stock a “strong-buy” rating in a report on Monday, February 8th. Truist Financial lifted their price objective on Zimmer Biomet from $152.00 to $174.00 in a report on Wednesday, January 6th. Wells Fargo & Company lifted their price objective on Zimmer Biomet from $176.00 to $183.00 and gave the stock an “overweight” rating in a report on Monday, March 8th. Finally, Evercore ISI upgraded Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $175.00 price objective on the stock in a report on Monday, January 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $165.65.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 4th. The medical equipment provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Zimmer Biomet had a return on equity of 10.07% and a net margin of 0.52%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.30 EPS. Analysts expect that Zimmer Biomet Holdings, Inc. will post 4.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Monday, March 29th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. Zimmer Biomet’s payout ratio is 12.20%.
Zimmer Biomet Company Profile
Zimmer Biomet Holdings, Inc provides musculoskeletal healthcare services. It designs, manufactures and markets orthopedic reconstructive products, sports medicine, biologics, extremities & trauma products, office based technologies, spine, craniomaxillofacial & thoracic products, dental implants and related surgical products.
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