Canandaigua National Bank & Trust Co. Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Canandaigua National Bank & Trust Co. cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,675 shares of the medical equipment provider’s stock after selling 125 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Zimmer Biomet were worth $353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. OLD Point Trust & Financial Services N A bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Zimmer Biomet in the fourth quarter valued at approximately $30,000. Naples Money Management LLC purchased a new position in Zimmer Biomet during the 4th quarter worth $35,000. Activest Wealth Management grew its stake in shares of Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Zimmer Biomet by 48.4% in the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 153 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 0.5 %

ZBH stock traded down $0.56 during midday trading on Tuesday, hitting $106.47. 623,634 shares of the company’s stock were exchanged, compared to its average volume of 1,451,584. The stock has a market capitalization of $21.90 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $118.22 and a 200-day moving average price of $121.83. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $147.50.

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

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Analyst Upgrades and Downgrades

ZBH has been the subject of several recent analyst reports. Barclays cut their price target on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 30th. Oppenheimer upped their price target on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Truist Financial dropped their price objective on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, The Goldman Sachs Group initiated coverage on Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average target price of $133.75.

Zimmer Biomet Profile

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.