FARMERS & MERCHANTS TRUST Co OF LONG BEACH Cuts Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,101 shares of the medical equipment provider’s stock after selling 167 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Zimmer Biomet were worth $1,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $266,896,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. Boston Partners raised its stake in shares of Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after purchasing an additional 484,151 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Zimmer Biomet by 11.3% during the first quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after buying an additional 320,002 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $104.83 on Tuesday. The stock has a market cap of $21.35 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90. The firm has a fifty day moving average price of $110.01 and a 200-day moving average price of $116.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $1.82 EPS. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.02 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.92%. Zimmer Biomet’s payout ratio is 20.78%.

Analyst Ratings Changes

ZBH has been the topic of several research analyst reports. Argus upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Tuesday, May 21st. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, August 8th. Barclays cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Morgan Stanley dropped their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, Canaccord Genuity Group lowered their target price on Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating on the stock in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and an average price target of $126.00.

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.