Quadrature Capital Ltd Trims Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Quadrature Capital Ltd cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 45.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,169 shares of the medical equipment provider’s stock after selling 17,120 shares during the quarter. Quadrature Capital Ltd’s holdings in Zimmer Biomet were worth $2,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sompo Asset Management Co. Ltd. grew its position in Zimmer Biomet by 15.5% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 3,960 shares of the medical equipment provider’s stock valued at $482,000 after purchasing an additional 530 shares during the last quarter. Prudential PLC grew its position in Zimmer Biomet by 0.5% during the 4th quarter. Prudential PLC now owns 30,779 shares of the medical equipment provider’s stock valued at $3,746,000 after purchasing an additional 138 shares during the last quarter. Vinva Investment Management Ltd grew its position in Zimmer Biomet by 88.9% during the 4th quarter. Vinva Investment Management Ltd now owns 12,876 shares of the medical equipment provider’s stock valued at $1,566,000 after purchasing an additional 6,059 shares during the last quarter. Morningstar Investment Services LLC grew its position in Zimmer Biomet by 106.4% during the 4th quarter. Morningstar Investment Services LLC now owns 105,832 shares of the medical equipment provider’s stock valued at $12,872,000 after purchasing an additional 54,546 shares during the last quarter. Finally, Cibc World Markets Corp grew its position in Zimmer Biomet by 133.2% during the 4th quarter. Cibc World Markets Corp now owns 26,899 shares of the medical equipment provider’s stock valued at $3,274,000 after purchasing an additional 15,365 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.03 during midday trading on Friday, reaching $113.34. The stock had a trading volume of 1,070,254 shares, compared to its average volume of 1,207,880. The stock has a 50-day moving average of $120.60 and a 200-day moving average of $122.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $147.50.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio is 20.78%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Citigroup upped their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Argus upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Tuesday, May 21st. Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Finally, Oppenheimer increased their price objective on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $133.75.

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.