The Manufacturers Life Insurance Company Lowers Stock Position in Zimmer Biomet Holdings, Inc. $ZBH

The Manufacturers Life Insurance Company decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,505,760 shares of the medical equipment provider’s stock after selling 38,886 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.78% of Zimmer Biomet worth $136,151,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. DV Equities LLC acquired a new position in Zimmer Biomet during the fourth quarter worth $25,000. Monetary Solutions Ltd purchased a new position in Zimmer Biomet in the fourth quarter worth $30,000. Gen Wealth Partners Inc acquired a new stake in Zimmer Biomet in the fourth quarter valued at $31,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Zimmer Biomet during the 4th quarter worth $32,000. Finally, Cornerstone Financial Management LLC purchased a new stake in shares of Zimmer Biomet during the 4th quarter worth $37,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Trading Up 3.8%

NYSE:ZBH opened at $95.57 on Wednesday. Zimmer Biomet Holdings, Inc. has a 52-week low of $79.12 and a 52-week high of $108.29. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $88.23 and a 200-day simple moving average of $89.79. The company has a market capitalization of $18.49 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.71 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.23. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $1.81 EPS. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be given a $0.24 dividend. The ex-dividend date is Thursday, June 25th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet’s dividend payout ratio is currently 24.94%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ZBH shares. Leerink Partners started coverage on shares of Zimmer Biomet in a report on Monday, April 13th. They issued a “hold” rating and a $101.00 price target for the company. Barclays decreased their price objective on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a report on Wednesday, April 29th. Citizens Jmp lowered their target price on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 29th. Truist Financial reaffirmed a “hold” rating and issued a $92.00 target price (down from $98.00) on shares of Zimmer Biomet in a report on Wednesday, April 29th. Finally, UBS Group started coverage on shares of Zimmer Biomet in a research report on Tuesday. They set a “buy” rating and a $115.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $102.00.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares of the company’s stock, valued at $2,252,022.64. This trade represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.28% of the stock is currently owned by company insiders.

Zimmer Biomet Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.