abrdn plc Sells 85,169 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

abrdn plc cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,301 shares of the medical equipment provider's stock after selling 85,169 shares during the quarter. abrdn plc owned about 0.18% of Zimmer Biomet worth $39,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet in the first quarter valued at $31,000. J.Safra Asset Management Corp boosted its position 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 period. Bangor Savings Bank bought a new position in Zimmer Biomet during the third quarter worth $31,000. Family Firm Inc. bought a new position in Zimmer Biomet during the second quarter worth $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet during the second quarter worth $43,000. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

Shares of ZBH stock traded down $2.89 on Thursday, reaching $106.92. The company had a trading volume of 2,095,597 shares, compared to its average volume of 1,489,476. The stock has a market capitalization of $22.00 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The business's 50-day moving average is $107.11 and its 200 day moving average is $111.00.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.01). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. Equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Zimmer Biomet's dividend payout ratio is currently 20.78%.

Wall Street Analyst Weigh In

ZBH has been the subject of a number of research analyst reports. Citigroup reduced their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, July 10th. Canaccord Genuity Group reduced their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating for the company in a research report on Tuesday, September 10th. Oppenheimer dropped their target price on Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, October 15th. Evercore ISI dropped their target price on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating for the company in a report on Tuesday, October 1st. Finally, UBS Group dropped their target price on Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet has a consensus rating of "Hold" and a consensus price target of $123.58.

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.