Financial Advocates Investment Management Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Financial Advocates Investment Management lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 18.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,476 shares of the medical equipment provider’s stock after selling 577 shares during the period. Financial Advocates Investment Management’s holdings in Zimmer Biomet were worth $262,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares during the period. Van ECK Associates Corp grew its holdings in Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after purchasing an additional 411,163 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Zimmer Biomet by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock worth $277,357,000 after purchasing an additional 9,990 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Zimmer Biomet by 49.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after buying an additional 577,320 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Zimmer Biomet by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after buying an additional 4,388 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Friday. Oppenheimer decreased their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Raymond James dropped their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target of $124.70.

Zimmer Biomet Stock Down 1.6 %

Shares of Zimmer Biomet stock opened at $101.01 on Monday. Zimmer Biomet Holdings, Inc. has a one year low of $99.93 and a one year high of $133.90. The company has a market cap of $20.11 billion, a P/E ratio of 22.70, a PEG ratio of 1.83 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 1.91. The firm has a fifty day moving average of $107.34 and a two-hundred day moving average of $108.08.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company earned $2.20 earnings per share. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.25 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were issued a dividend of $0.24 per share. The ex-dividend date was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.95%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 21.57%.

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.