Douglas Lane & Associates LLC Reduces Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Douglas Lane & Associates LLC cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 515,353 shares of the medical equipment provider's stock after selling 34,703 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.25% of Zimmer Biomet worth $68,016,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. OLD Point Trust & Financial Services N A acquired a new stake in Zimmer Biomet during the fourth quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Zimmer Biomet during the 4th quarter valued at about $30,000. Naples Money Management LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $35,000. Activest Wealth Management raised its holdings in Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 275 shares during the period. Finally, Blue Trust Inc. boosted its position in Zimmer Biomet by 48.4% during the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider's stock worth $52,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Zimmer Biomet Trading Up 1.5 %

Zimmer Biomet stock traded up $1.61 during midday trading on Friday, hitting $107.86. 3,445,022 shares of the stock were exchanged, compared to its average volume of 1,512,492. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $22.19 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.91 and a beta of 1.02. The stock's 50-day simple moving average is $116.59 and its 200 day simple moving average is $121.55. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $147.50.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. On average, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet's dividend payout ratio is presently 20.78%.

Analyst Ratings Changes

A number of analysts have recently commented on ZBH shares. Barclays cut their price objective on Zimmer Biomet from $130.00 to $125.00 and set an "underweight" rating for the company in a research report on Friday, May 31st. Argus upgraded shares of Zimmer Biomet from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a research report on Tuesday, May 21st. Truist Financial decreased their price objective on shares of Zimmer Biomet from $137.00 to $130.00 and set a "hold" rating on the stock in a report on Friday, May 3rd. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They set a "neutral" rating and a $129.00 target price for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.