Simmons Bank Lowers Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Simmons Bank reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 60.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,807 shares of the medical equipment provider’s stock after selling 10,612 shares during the period. Simmons Bank’s holdings in Zimmer Biomet were worth $828,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $35,000. Activest Wealth Management raised its holdings in shares of Zimmer Biomet by 410.4% in the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. Peoples Bank KS acquired a new position in Zimmer Biomet in the 3rd quarter valued at about $48,000. Blue Trust Inc. raised its position in shares of Zimmer Biomet by 48.4% in the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 153 shares during the last quarter. Finally, Quent Capital LLC boosted its position in Zimmer Biomet by 21.6% during the fourth quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Zimmer Biomet Stock Down 0.5 %

Shares of NYSE:ZBH traded down $0.56 during trading on Wednesday, hitting $120.87. The company’s stock had a trading volume of 770,465 shares, compared to its average volume of 1,470,292. The company has a market capitalization of $24.87 billion, a PE ratio of 26.28, a PEG ratio of 2.18 and a beta of 1.03. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. The stock’s 50-day moving average price is $125.07 and its two-hundred day moving average price is $120.44.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.07. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. As a group, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.09 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 9th. Evercore ISI lifted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $135.40.

Zimmer Biomet Company Profile

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.