Bartlett & CO. Wealth Management LLC Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bartlett & CO. Wealth Management LLC lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 48.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,562 shares of the medical equipment provider’s stock after selling 1,490 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Zimmer Biomet were worth $165,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after buying an additional 125,852 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of 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 buying an additional 411,163 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Zimmer Biomet by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after buying an additional 9,990 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Zimmer Biomet by 49.1% during the 3rd 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 last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Zimmer Biomet by 0.4% during the 3rd 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. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $110.78 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The business’s 50 day moving average price is $107.89 and its 200-day moving average price is $108.09. The firm has a market cap of $22.05 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.88 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.67 and a fifty-two week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $1.65 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is 18.25%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ZBH shares. BTIG Research dropped their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Barclays dropped their price objective on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company upped their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Oppenheimer decreased their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.11.

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.