Douglas Lane & Associates LLC Decreases Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Douglas Lane & Associates LLC lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 416,293 shares of the medical equipment provider’s stock after selling 36,705 shares during the period. Douglas Lane & Associates LLC’s holdings in Zimmer Biomet were worth $44,939,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet in the 4th quarter worth about $30,000. Crewe Advisors LLC bought a new position in Zimmer Biomet in the 1st quarter worth about $31,000. Bangor Savings Bank bought a new position in Zimmer Biomet in the 3rd quarter worth about $31,000. Family Firm Inc. bought a new position in Zimmer Biomet in the 2nd quarter worth about $33,000. Finally, J.Safra Asset Management Corp boosted its stake in Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 0.7 %

ZBH stock traded up $0.68 during midday trading on Friday, hitting $103.50. The company had a trading volume of 975,023 shares, compared to its average volume of 1,546,459. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The stock’s 50 day moving average price is $108.37 and its 200 day moving average price is $113.21. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.89 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 earnings per share. As a group, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.93%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Wall Street Analyst Weigh In

Several research analysts have commented on ZBH shares. UBS Group cut their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price target on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Tuesday, September 17th. Truist Financial reiterated a “hold” rating and set a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Finally, BTIG Research dropped their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $124.53.

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.