Cornell Pochily Investment Advisors Inc. Sells 760 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cornell Pochily Investment Advisors Inc. trimmed its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 12.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,301 shares of the medical equipment provider’s stock after selling 760 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Zimmer Biomet were worth $572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in Zimmer Biomet in the 1st quarter valued at $31,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet in the third quarter worth about $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet in the 2nd quarter worth about $33,000. J.Safra Asset Management Corp lifted its holdings in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Zimmer Biomet in the 2nd quarter valued at about $43,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Raymond James dropped their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday. Citigroup decreased their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $124.26.

Zimmer Biomet Stock Up 1.3 %

ZBH stock opened at $104.88 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The firm’s fifty day simple moving average is $108.33 and its 200-day simple moving average is $112.88. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.47 and a 12 month high of $133.90. The company has a market capitalization of $21.58 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.82 earnings per share. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is presently 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.