Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Costello Asset Management INC

Costello Asset Management INC decreased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 32.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,559 shares of the medical equipment provider's stock after selling 8,618 shares during the period. Zimmer Biomet makes up about 1.3% of Costello Asset Management INC's investment portfolio, making the stock its 28th largest position. Costello Asset Management INC's holdings in Zimmer Biomet were worth $1,895,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Covestor Ltd raised its holdings in shares of Zimmer Biomet by 36.3% in the third quarter. Covestor Ltd now owns 1,088 shares of the medical equipment provider's stock worth $117,000 after buying an additional 290 shares during the period. Mesirow Financial Investment Management Inc. grew its position in Zimmer Biomet by 95.2% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 5,254 shares of the medical equipment provider's stock valued at $567,000 after acquiring an additional 2,563 shares during the last quarter. Atria Investments Inc increased its stake in Zimmer Biomet by 60.2% in the third quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider's stock worth $586,000 after purchasing an additional 2,041 shares during the period. Rovin Capital UT ADV boosted its stake in shares of Zimmer Biomet by 19.1% during the third quarter. Rovin Capital UT ADV now owns 6,426 shares of the medical equipment provider's stock valued at $694,000 after purchasing an additional 1,029 shares during the period. Finally, Philip James Wealth Mangement LLC bought a new position in shares of Zimmer Biomet in the third quarter worth about $305,000. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Down 0.5 %

Shares of ZBH stock traded down $0.51 during trading hours on Friday, reaching $108.18. 1,175,736 shares of the company's stock were exchanged, compared to its average volume of 1,472,302. The stock has a market cap of $21.54 billion, a PE ratio of 20.57, a PEG ratio of 1.99 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The stock's fifty day moving average price is $106.37 and its two-hundred day moving average price is $110.40. Zimmer Biomet Holdings, Inc. has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.74. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet's dividend payout ratio is presently 18.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ZBH shares. Royal Bank of Canada lifted their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Morgan Stanley lowered their price target on Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating for the company in a report on Monday, July 15th. Oppenheimer reduced their price objective on Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, October 15th. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet has an average rating of "Hold" and an average target price of $124.11.

Zimmer Biomet 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.