Zimmer Biomet Holdings, Inc. $ZBH Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 56.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,040 shares of the medical equipment provider’s stock after selling 9,123 shares during the period. Mediolanum International Funds Ltd’s holdings in Zimmer Biomet were worth $692,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. grew its position in shares of Zimmer Biomet by 66.7% in the third quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Zimmer Biomet by 83.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 149 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Zimmer Biomet in the 3rd quarter worth $31,000. Mather Group LLC. purchased a new position in shares of Zimmer Biomet during the 3rd quarter worth $36,000. Finally, Headlands Technologies LLC acquired a new position in shares of Zimmer Biomet during the 2nd quarter valued at about $37,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZBH has been the topic of a number of analyst reports. Barclays reduced their target price on shares of Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Wednesday, January 21st. UBS Group reduced their target price on Zimmer Biomet from $88.00 to $86.00 and set a “sell” rating on the stock in a research report on Wednesday, January 28th. TD Cowen upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group lowered shares of Zimmer Biomet from a “neutral” rating to a “sell” rating and set a $93.00 price objective on the stock. in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $107.24.

Zimmer Biomet Stock Down 0.1%

Shares of Zimmer Biomet stock opened at $86.15 on Wednesday. Zimmer Biomet Holdings, Inc. has a 52-week low of $84.59 and a 52-week high of $114.44. The company has a 50 day moving average of $90.64 and a 200 day moving average of $95.87. The company has a quick ratio of 1.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $17.07 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.20 and a beta of 0.62.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Zimmer Biomet had a net margin of 10.05% and a return on equity of 12.85%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.74 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th were issued a $0.24 dividend. The ex-dividend date was Tuesday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. Zimmer Biomet’s dividend payout ratio is presently 23.76%.

About Zimmer Biomet

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.