Advisory Services Network LLC Sells 3,326 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Advisory Services Network LLC cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 60.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,218 shares of the medical equipment provider's stock after selling 3,326 shares during the period. Advisory Services Network LLC's holdings in Zimmer Biomet were worth $234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CKW Financial Group grew its position in shares of Zimmer Biomet by 11.7% during the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider's stock worth $101,000 after acquiring an additional 100 shares during the last quarter. Romano Brothers AND Company increased its stake in Zimmer Biomet by 1.1% in the fourth quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider's stock valued at $1,000,000 after purchasing an additional 102 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Zimmer Biomet by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider's stock worth $485,000 after buying an additional 102 shares during the last quarter. M&T Bank Corp lifted its position in Zimmer Biomet by 0.4% during the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider's stock worth $2,834,000 after acquiring an additional 108 shares during the period. Finally, Dakota Wealth Management raised its stake in shares of Zimmer Biomet by 1.3% during the fourth quarter. Dakota Wealth Management now owns 9,620 shares of the medical equipment provider's stock worth $1,016,000 after purchasing an additional 122 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial reaffirmed a "hold" rating and issued a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Stifel Nicolaus lifted their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $124.15.

Zimmer Biomet Stock Performance

ZBH stock traded down $1.54 during trading on Monday, reaching $96.38. 2,256,366 shares of the company's stock were exchanged, compared to its average volume of 1,655,619. The company's fifty day moving average price is $105.87 and its 200-day moving average price is $106.68. The firm has a market cap of $19.07 billion, a PE ratio of 21.66, a P/E/G ratio of 1.95 and a beta of 0.84. Zimmer Biomet Holdings, Inc. has a 1-year low of $93.10 and a 1-year high of $123.96. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the previous year, the company earned $2.20 EPS. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's payout ratio is 21.57%.

Insider Transactions at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is currently owned by insiders.

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.