Norway Savings Bank Sells 1,462 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Norway Savings Bank lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,057 shares of the medical equipment provider’s stock after selling 1,462 shares during the period. Norway Savings Bank’s holdings in Zimmer Biomet were worth $978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ZBH. Price T Rowe Associates Inc. MD increased its position in shares of Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after acquiring an additional 1,215,935 shares in the last quarter. American Century Companies Inc. increased its holdings in Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Boston Partners raised its stake in shares of Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares during the period. Magnetar Financial LLC boosted its position in shares of Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after buying an additional 484,816 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Zimmer Biomet by 329.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock worth $53,195,000 after buying an additional 375,929 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZBH has been the topic of several research reports. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their target price for the company from $140.00 to $115.00 in a research note on Monday, July 1st. BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Evercore ISI cut their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Oppenheimer decreased their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, TD Cowen dropped their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $123.74.

Zimmer Biomet Stock Performance

ZBH stock traded up $0.88 during mid-day trading on Tuesday, hitting $105.71. 314,387 shares of the company were exchanged, compared to its average volume of 1,484,080. Zimmer Biomet Holdings, Inc. has a 1-year low of $101.47 and a 1-year high of $133.90. The business has a 50 day simple moving average of $108.33 and a 200-day simple moving average of $112.88. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $21.75 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.02. The business 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 firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. On average, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 8 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is 20.78%.

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.