Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. decreased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,000 shares of the medical equipment provider’s stock after selling 1,635 shares during the quarter. Zimmer Biomet makes up 1.4% of Olstein Capital Management L.P.’s holdings, making the stock its 25th biggest position. Olstein Capital Management L.P.’s holdings in Zimmer Biomet were worth $8,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Zimmer Biomet by 11,244.9% in the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock valued at $8,146,000 after buying an additional 66,345 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Zimmer Biomet by 37.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock valued at $18,981,000 after acquiring an additional 42,539 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Zimmer Biomet by 10.1% during the 4th quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after purchasing an additional 15,552 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Zimmer Biomet by 499.0% in the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after purchasing an additional 112,237 shares in the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $1,093,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH stock traded up $0.31 during mid-day trading on Wednesday, reaching $106.58. The stock had a trading volume of 635,871 shares, compared to its average volume of 1,505,792. The company has a market cap of $21.93 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $144.13. The business has a 50-day simple moving average of $114.69 and a 200 day simple moving average of $121.05.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.07. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.89 EPS. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Zimmer Biomet’s payout ratio is 20.78%.

Analyst Ratings Changes

ZBH has been the topic of a number of recent research reports. Oppenheimer boosted their price objective on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $115.00 in a research note on Monday. Barclays decreased their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Finally, 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 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $131.76.

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.