Ropes Wealth Advisors LLC lessened its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 17.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,975 shares of the medical equipment provider’s stock after selling 644 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Zimmer Biomet were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Zimmer Biomet by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 11,595,444 shares of the medical equipment provider’s stock valued at $1,524,453,000 after purchasing an additional 1,033,717 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Zimmer Biomet by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 2,436,303 shares of the medical equipment provider’s stock worth $320,301,000 after buying an additional 31,561 shares during the last quarter. Standard Life Aberdeen plc increased its holdings in Zimmer Biomet by 4.9% during the third quarter. Standard Life Aberdeen plc now owns 101,239 shares of the medical equipment provider’s stock worth $13,310,000 after buying an additional 4,718 shares during the last quarter. Paloma Partners Management Co increased its holdings in Zimmer Biomet by 129.8% during the third quarter. Paloma Partners Management Co now owns 1,700 shares of the medical equipment provider’s stock worth $223,000 after buying an additional 7,399 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Zimmer Biomet by 16.2% during the third quarter. Pacer Advisors Inc. now owns 10,711 shares of the medical equipment provider’s stock worth $1,408,000 after buying an additional 1,496 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Barclays boosted their target price on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a report on Monday. Zacks Investment Research downgraded shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a report on Saturday. Evercore ISI upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, April 8th. Morgan Stanley boosted their target price on shares of Zimmer Biomet from $132.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Finally, SunTrust Banks boosted their target price on shares of Zimmer Biomet to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $129.95.
Shares of NYSE:ZBH traded down $0.14 on Monday, hitting $127.78. The company had a trading volume of 14,799 shares, compared to its average volume of 1,237,366. Zimmer Biomet Holdings Inc has a 1-year low of $96.99 and a 1-year high of $134.55. The company has a market cap of $26.30 billion, a P/E ratio of 16.72, a P/E/G ratio of 2.26 and a beta of 1.23. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.83 and a quick ratio of 0.90.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, February 1st. The medical equipment provider reported $2.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.18. Zimmer Biomet had a negative net margin of 4.78% and a positive return on equity of 13.17%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the company earned $2.10 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts expect that Zimmer Biomet Holdings Inc will post 7.81 earnings per share for the current year.
The business 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. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.75%. Zimmer Biomet’s dividend payout ratio is currently 12.57%.
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About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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