Olstein Capital Management L.P. Sells 1,635 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Olstein Capital Management L.P. trimmed its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,000 shares of the medical equipment provider’s stock after selling 1,635 shares during the quarter. Zimmer Biomet accounts for 1.4% of Olstein Capital Management L.P.’s holdings, making the stock its 25th largest holding. Olstein Capital Management L.P.’s holdings in Zimmer Biomet were worth $8,579,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

ZBH has been the subject of several research analyst reports. Truist Financial lowered their price target 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. Oppenheimer increased their target price on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. The Goldman Sachs Group began coverage on Zimmer Biomet in a report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target on the stock. Evercore ISI dropped their price objective on shares of Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Citigroup boosted their target price 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target of $131.76.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $0.31 during trading hours on Wednesday, reaching $106.58. The stock had a trading volume of 635,871 shares, compared to its average volume of 1,505,792. The stock has a market cap of $21.93 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. The stock has a 50 day simple moving average of $114.69 and a 200 day simple moving average of $121.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $144.13.

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

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

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.