Williams Jones Wealth Management LLC. Sells 265 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Williams Jones Wealth Management LLC. trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,998 shares of the medical equipment provider’s stock after selling 265 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Zimmer Biomet were worth $396,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ZBH. GW Henssler & Associates Ltd. grew its stake in shares of Zimmer Biomet by 5.6% in the first quarter. GW Henssler & Associates Ltd. now owns 204,061 shares of the medical equipment provider’s stock worth $26,932,000 after acquiring an additional 10,764 shares during the period. Tectonic Advisors LLC lifted its holdings in shares of Zimmer Biomet by 12.7% during the 1st quarter. Tectonic Advisors LLC now owns 2,356 shares of the medical equipment provider’s stock valued at $311,000 after buying an additional 265 shares during the period. Forsta AP Fonden boosted its stake in shares of Zimmer Biomet by 95.1% in the 1st quarter. Forsta AP Fonden now owns 99,100 shares of the medical equipment provider’s stock worth $13,079,000 after buying an additional 48,300 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Zimmer Biomet by 8.4% in the first quarter. Illinois Municipal Retirement Fund now owns 71,683 shares of the medical equipment provider’s stock worth $9,461,000 after acquiring an additional 5,528 shares during the period. Finally, PFG Advisors increased its position in Zimmer Biomet by 5.5% during the first quarter. PFG Advisors now owns 2,004 shares of the medical equipment provider’s stock valued at $265,000 after acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

NYSE ZBH traded up $3.30 during trading hours on Wednesday, reaching $110.76. The company’s stock had a trading volume of 58,932 shares, compared to its average volume of 1,481,144. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $143.24. The firm’s 50-day moving average price is $112.04 and its 200-day moving average price is $120.10. The company has a market capitalization of $22.79 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 1.92 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. On average, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler cut 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 research report on Monday, July 1st. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Tuesday, May 21st. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price for the company. Barclays dropped their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Finally, Evercore ISI reduced their price objective on Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and an average price target of $129.53.

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.