Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% during the first quarter, Holdings Channel.com reports. 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’s holdings in Zimmer Biomet were worth $136,151,000 at the end of the most recent quarter.

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

Zimmer Biomet Stock Up 3.8%

Shares of ZBH opened at $95.57 on Wednesday. The firm has a market cap 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. The company’s fifty day moving average is $88.23 and its two-hundred day moving average is $89.79. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $79.12 and a fifty-two 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.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.23. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.48 earnings per share for the current year.

Zimmer Biomet Announces Dividend

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

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ZBH shares. Weiss Ratings lowered Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Truist Financial reaffirmed a “hold” rating and issued a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 target price on Zimmer Biomet in a research note on Wednesday, April 29th. Barclays reduced their target price on Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Robert W. Baird set a $92.00 price target on Zimmer Biomet in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $102.00.

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.