Birch Hill Investment Advisors LLC Cuts Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Birch Hill Investment Advisors LLC cut its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,513 shares of the medical equipment provider’s stock after selling 655 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Zimmer Biomet were worth $1,744,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after acquiring an additional 125,852 shares during the last quarter. M&T Bank Corp increased its position in Zimmer Biomet by 48.4% during the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after purchasing an additional 8,709 shares in the last quarter. Peddock Capital Advisors LLC purchased a new position in Zimmer Biomet in the fourth quarter valued at approximately $654,000. National Pension Service grew its stake in Zimmer Biomet by 3.8% during the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after buying an additional 13,612 shares during the period. Finally, River Global Investors LLP increased its position in shares of Zimmer Biomet by 31.3% in the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after acquiring an additional 5,030 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ZBH shares. Stifel Nicolaus lifted their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Truist Financial upped their target price on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $124.70.

Zimmer Biomet Stock Performance

ZBH stock opened at $101.01 on Friday. The firm has a market cap of $20.11 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.83 and a beta of 1.02. The stock’s 50 day simple moving average is $107.34 and its 200 day simple moving average is $108.10. The company has a current ratio of 1.91, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12-month low of $99.93 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the prior year, the company posted $2.20 EPS. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.25 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.57%.

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.