Welch & Forbes LLC Sells 1,549 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Welch & Forbes LLC lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,072 shares of the medical equipment provider’s stock after selling 1,549 shares during the period. Welch & Forbes LLC’s holdings in Zimmer Biomet were worth $1,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Apollon Wealth Management LLC increased its position in Zimmer Biomet by 86.8% in the fourth quarter. Apollon Wealth Management LLC now owns 4,085 shares of the medical equipment provider’s stock worth $497,000 after purchasing an additional 1,898 shares during the last quarter. Machina Capital S.A.S. bought a new stake in Zimmer Biomet during the fourth quarter worth approximately $633,000. Private Advisor Group LLC lifted its stake in shares of Zimmer Biomet by 12.3% in the 4th quarter. Private Advisor Group LLC now owns 10,610 shares of the medical equipment provider’s stock valued at $1,291,000 after purchasing an additional 1,164 shares during the last quarter. SYM FINANCIAL Corp purchased a new position in shares of Zimmer Biomet in the 4th quarter worth approximately $201,000. Finally, River Global Investors LLP increased its position in shares of Zimmer Biomet by 13.9% during the 4th quarter. River Global Investors LLP now owns 16,479 shares of the medical equipment provider’s stock valued at $2,006,000 after purchasing an additional 2,012 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ZBH shares. Oppenheimer upped their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Evercore ISI increased their price objective on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Citigroup raised their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Canaccord Genuity Group reiterated a “hold” rating and set a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.40.

Zimmer Biomet Stock Performance

Shares of ZBH traded down $0.57 during trading hours on Wednesday, hitting $120.86. The company’s stock had a trading volume of 241,807 shares, compared to its average volume of 1,463,990. The business has a 50 day simple moving average of $125.07 and a two-hundred day simple moving average of $120.44. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 2.18 and a beta of 1.03. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $147.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80.

Zimmer Biomet (NYSE:ZBH) last issued 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 company 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 firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.09 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s payout ratio is 20.78%.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

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.