Cannell & Spears LLC Sells 1,958 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cannell & Spears LLC trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 40.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,915 shares of the medical equipment provider’s stock after selling 1,958 shares during the quarter. Cannell & Spears LLC’s holdings in Zimmer Biomet were worth $308,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC raised its position in shares of Zimmer Biomet by 21.3% during the 3rd quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock valued at $257,000 after acquiring an additional 417 shares during the last quarter. FMR LLC increased its holdings in Zimmer Biomet by 27.6% in the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after purchasing an additional 162,384 shares during the last quarter. Townsquare Capital LLC acquired a new position in Zimmer Biomet in the third quarter valued at about $341,000. Public Sector Pension Investment Board boosted its holdings in Zimmer Biomet by 7.5% during the third quarter. Public Sector Pension Investment Board now owns 8,620 shares of the medical equipment provider’s stock worth $931,000 after buying an additional 600 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth about $4,476,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $112.32 on Wednesday. The stock’s 50-day simple moving average is $107.29 and its 200 day simple moving average is $107.14. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $130.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The company has a market cap of $22.36 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data 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 return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

Insider Activity

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. JMP Securities reiterated a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Truist Financial reissued a “hold” rating and issued a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Royal Bank of Canada lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $124.15.

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.