Meridian Investment Counsel Inc. Lowers Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Meridian Investment Counsel Inc. reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,025 shares of the medical equipment provider’s stock after selling 123 shares during the period. Meridian Investment Counsel Inc.’s holdings in Zimmer Biomet were worth $327,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ZBH. Ashton Thomas Securities LLC purchased a new position in shares of Zimmer Biomet during the third quarter valued at approximately $28,000. Crewe Advisors LLC purchased a new position in Zimmer Biomet during the first quarter valued at $31,000. Bangor Savings Bank bought a new stake in Zimmer Biomet in the third quarter worth $31,000. Family Firm Inc. bought a new position in shares of Zimmer Biomet during the second quarter valued at $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Zimmer Biomet during the second quarter valued at $43,000. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Up 3.4 %

NYSE ZBH opened at $112.54 on Friday. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $22.40 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The stock’s 50-day moving average price is $106.28 and its 200-day moving average price is $110.04.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts’ consensus estimates of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 EPS. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.85%. The ex-dividend date was Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Analyst Ratings Changes

A number of research firms have weighed in on ZBH. TD Cowen reduced their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. decreased their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Robert W. Baird cut their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Raymond James decreased their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Evercore ISI reduced their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.22.

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.