Johnson Investment Counsel Inc. Sells 272,311 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Johnson Investment Counsel Inc. reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 69.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,060 shares of the medical equipment provider's stock after selling 272,311 shares during the quarter. Johnson Investment Counsel Inc. owned about 0.06% of Zimmer Biomet worth $12,471,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in Zimmer Biomet by 181.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 25,869 shares of the medical equipment provider's stock valued at $2,793,000 after purchasing an additional 16,663 shares during the period. Atria Investments Inc boosted its stake in shares of Zimmer Biomet by 60.2% during the 3rd quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider's stock valued at $586,000 after purchasing an additional 2,041 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of Zimmer Biomet by 95.2% during the third quarter. Mesirow Financial Investment Management Inc. now owns 5,254 shares of the medical equipment provider's stock valued at $567,000 after buying an additional 2,563 shares during the period. Covestor Ltd raised its stake in 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 in the last quarter. Finally, River Global Investors LLP lifted its holdings in Zimmer Biomet by 31.3% in the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider's stock worth $2,276,000 after buying an additional 5,030 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ZBH shares. Truist Financial reissued a "hold" rating and issued a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 7th. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Raymond James lowered their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $124.15.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded up $3.60 during trading on Thursday, hitting $107.63. 2,062,515 shares of the company's stock traded hands, compared to its average volume of 1,921,875. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90. The business has a 50-day simple moving average of $105.65 and a 200-day simple moving average of $107.05. The stock has a market capitalization of $21.43 billion, a P/E ratio of 24.19, a PEG ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the prior year, the firm posted $2.20 EPS. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet's payout ratio is 21.57%.

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.