Greenleaf Trust Trims Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Greenleaf Trust cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,119 shares of the medical equipment provider’s stock after selling 1,260 shares during the quarter. Greenleaf Trust’s holdings in Zimmer Biomet were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at about $35,000. John G Ullman & Associates Inc. acquired a new stake in Zimmer Biomet in the 4th quarter valued at approximately $3,975,000. Resonant Capital Advisors LLC raised its position in Zimmer Biomet by 11.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 4,036 shares of the medical equipment provider’s stock valued at $492,000 after purchasing an additional 426 shares during the period. Calamos Advisors LLC lifted its stake in Zimmer Biomet by 10.5% during the fourth quarter. Calamos Advisors LLC now owns 326,629 shares of the medical equipment provider’s stock worth $39,751,000 after purchasing an additional 30,908 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Zimmer Biomet by 33.4% during the fourth quarter. Xponance Inc. now owns 35,694 shares of the medical equipment provider’s stock worth $4,344,000 after buying an additional 8,945 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ZBH shares. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Raymond James increased their price target on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a report on Friday, February 23rd. Finally, Barclays raised their price target on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $139.39.

Insider Buying and Selling at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares in the company, valued at $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $120.78 on Tuesday. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $149.25. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average price of $126.23 and a 200 day moving average price of $119.37.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Zimmer Biomet’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is 19.63%.

Zimmer Biomet 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.