Citizens Financial Group Inc. RI Sells 259 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Citizens Financial Group Inc. RI lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 9.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,383 shares of the medical equipment provider’s stock after selling 259 shares during the period. Citizens Financial Group Inc. RI’s holdings in Zimmer Biomet were worth $257,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet during the third quarter worth about $28,000. Bangor Savings Bank bought a new stake in shares of Zimmer Biomet during the 3rd quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet during the 2nd quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Zimmer Biomet in the 2nd quarter valued at approximately $43,000. Finally, Ridgewood Investments LLC acquired a new stake in Zimmer Biomet in the second quarter valued at approximately $43,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Up 1.7 %

Zimmer Biomet stock opened at $110.22 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $21.94 billion, a PE ratio of 20.95, a PEG ratio of 1.99 and a beta of 1.02. The firm’s fifty day moving average is $106.79 and its 200 day moving average is $109.69. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s payout ratio is 18.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZBH. Wolfe Research assumed coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating for the company. Raymond James cut their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target of $123.22.

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.