Thrivent Financial for Lutherans Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Thrivent Financial for Lutherans reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 911,644 shares of the medical equipment provider's stock after selling 32,660 shares during the period. Thrivent Financial for Lutherans owned 0.45% of Zimmer Biomet worth $98,940,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ZBH. OLD Point Trust & Financial Services N A bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet in the 4th quarter worth $30,000. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet in the first quarter valued at about $31,000. Family Firm Inc. bought a new position in shares of Zimmer Biomet during the second quarter valued at about $33,000. Finally, J.Safra Asset Management Corp boosted its holdings in Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 235 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on ZBH shares. JPMorgan Chase & Co. decreased their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. UBS Group decreased their price target on Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating for the company in a research report on Thursday, August 8th. Citigroup cut their price objective on Zimmer Biomet from $134.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on Zimmer Biomet in a research note on Thursday, May 30th. They issued a "neutral" rating and a $129.00 price objective for the company. Finally, Morgan Stanley decreased their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, twelve have issued 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 price target of $125.17.

Zimmer Biomet Price Performance

NYSE:ZBH traded up $0.08 during trading hours on Friday, hitting $106.42. The stock had a trading volume of 3,920,050 shares, compared to its average volume of 1,504,211. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The company has a 50 day simple moving average of $109.83 and a two-hundred day simple moving average of $115.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm's revenue was up 3.9% on a year-over-year basis. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.90%. Zimmer Biomet's payout ratio is presently 20.78%.

About Zimmer Biomet

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.