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

Financial Advocates Investment Management cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,476 shares of the medical equipment provider’s stock after selling 577 shares during the quarter. Financial Advocates Investment Management’s holdings in Zimmer Biomet were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in 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. M&T Bank Corp increased its position in Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after acquiring an additional 8,709 shares during the last quarter. Peddock Capital Advisors LLC bought a new position in Zimmer Biomet in the fourth quarter valued at about $654,000. National Pension Service boosted its position in Zimmer Biomet by 3.8% in the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after purchasing an additional 13,612 shares during the last quarter. Finally, River Global Investors LLP grew its stake in shares of Zimmer Biomet by 31.3% during the 3rd quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock valued at $2,276,000 after purchasing an additional 5,030 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ZBH shares. Oppenheimer dropped their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Truist Financial upped their price objective on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a report on Friday. Finally, JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $124.70.

Zimmer Biomet Stock Down 1.6 %

Shares of ZBH stock opened at $101.01 on Monday. The company’s fifty day simple moving average is $107.34 and its two-hundred day simple moving average is $108.08. Zimmer Biomet Holdings, Inc. has a 52 week low of $99.93 and a 52 week high of $133.90. The stock 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 quick ratio of 0.70, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter last year, the firm earned $2.20 earnings per share. Analysts predict that Zimmer Biomet Holdings, Inc. will post 8.25 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s dividend payout ratio is presently 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.