Costello Asset Management INC Has $1.90 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Costello Asset Management INC cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 32.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,559 shares of the medical equipment provider’s stock after selling 8,618 shares during the period. Zimmer Biomet makes up 1.3% of Costello Asset Management INC’s holdings, making the stock its 28th largest position. Costello Asset Management INC’s holdings in Zimmer Biomet were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ZBH. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet during the first quarter worth about $31,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $33,000. J.Safra Asset Management Corp lifted its position in shares of Zimmer Biomet by 712.1% in the first 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 in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Zimmer Biomet during the second quarter worth $43,000. Institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. BTIG Research dropped their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Raymond James reduced their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada upped their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Morgan Stanley lowered their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.11.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $108.18 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $101.47 and a 12-month high of $133.90. The firm has a 50-day moving average price of $106.37 and a two-hundred day moving average price of $110.48. The company has a market capitalization of $21.54 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.99 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results 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. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is 18.25%.

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.