RNC Capital Management LLC Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

RNC Capital Management LLC cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) by 39.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,495 shares of the medical equipment provider’s stock after selling 2,320 shares during the quarter. RNC Capital Management LLC’s holdings in Zimmer Biomet were worth $444,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ZBH. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Zimmer Biomet by 1.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 117,666 shares of the medical equipment provider’s stock valued at $15,025,000 after purchasing an additional 1,465 shares in the last quarter. Morgan Stanley lifted its position in Zimmer Biomet by 8.8% in the second quarter. Morgan Stanley now owns 926,357 shares of the medical equipment provider’s stock worth $148,978,000 after buying an additional 75,243 shares during the last quarter. Emfo LLC lifted its position in Zimmer Biomet by 39.0% in the third quarter. Emfo LLC now owns 695 shares of the medical equipment provider’s stock worth $102,000 after buying an additional 195 shares during the last quarter. Stephens Inc. AR lifted its position in Zimmer Biomet by 3.3% in the third quarter. Stephens Inc. AR now owns 12,746 shares of the medical equipment provider’s stock worth $1,866,000 after buying an additional 413 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Zimmer Biomet in the third quarter worth $1,465,000. 89.02% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ZBH traded up $4.86 during mid-day trading on Tuesday, reaching $130.09. 56,355 shares of the company’s stock were exchanged, compared to its average volume of 1,868,450. The firm has a market capitalization of $27.23 billion, a price-to-earnings ratio of 65.91, a PEG ratio of 3.30 and a beta of 1.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.72 and a current ratio of 1.41. Zimmer Biomet Holdings, Inc. has a 52-week low of $108.47 and a 52-week high of $180.36. The company’s 50-day moving average is $123.09 and its 200-day moving average is $128.50.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its quarterly earnings results on Monday, February 7th. The medical equipment provider reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.03). The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Zimmer Biomet had a return on equity of 12.30% and a net margin of 5.12%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 earnings per share. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 6.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Tuesday, March 29th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Monday, March 28th. Zimmer Biomet’s dividend payout ratio is presently 50.53%.

Several analysts have recently weighed in on the company. StockNews.com downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Stifel Nicolaus dropped their price target on Zimmer Biomet from $178.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, February 8th. Wells Fargo & Company dropped their price target on Zimmer Biomet from $124.00 to $111.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 8th. Truist Financial lowered Zimmer Biomet from a “buy” rating to a “hold” rating and boosted their price target for the stock from $128.00 to $142.00 in a research note on Wednesday, April 13th. Finally, Mizuho lowered Zimmer Biomet from a “buy” rating to a “neutral” rating in a research note on Monday, January 10th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $143.58.

In other news, VP Chad F. Phipps sold 35,149 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $121.97, for a total transaction of $4,287,123.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.73% of the company’s stock.

About Zimmer Biomet (Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

Further Reading

Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.