Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Short Interest Down 18.9% in May

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 4,580,000 shares, a decrease of 18.9% from the May 15th total of 5,650,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.2% of the company’s shares are short sold.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors have recently modified their holdings of the stock. PFG Advisors increased its stake in Zimmer Biomet by 4.6% during the 4th quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after purchasing an additional 84 shares in the last quarter. Quent Capital LLC raised its holdings in Zimmer Biomet by 21.6% in the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 92 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Zimmer Biomet by 16.6% in the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 95 shares in the last quarter. Finally, Stokes Family Office LLC raised its stake in shares of Zimmer Biomet by 4.1% in the third quarter. Stokes Family Office LLC now owns 2,498 shares of the medical equipment provider’s stock worth $280,000 after purchasing an additional 99 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 0.4 %

Zimmer Biomet stock traded down $0.41 on Monday, hitting $106.78. 360,815 shares of the stock traded hands, compared to its average volume of 1,448,217. The business’s fifty day simple moving average is $118.61 and its 200 day simple moving average is $121.89. The firm has a market cap of $21.97 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. 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 has a 1 year low of $102.00 and a 1 year high of $147.50.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Zimmer Biomet will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on ZBH shares. Truist Financial decreased their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Barclays lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Oppenheimer increased their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Tuesday, May 21st. Finally, Citigroup raised their target price on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $133.75.

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.