Lmcg Investments LLC Cuts Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Lmcg Investments LLC decreased its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,677 shares of the medical equipment provider’s stock after selling 12,876 shares during the period. Lmcg Investments LLC’s holdings in Zimmer Biomet were worth $5,826,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC raised its position in Zimmer Biomet by 3.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 92 shares during the period. North Star Investment Management Corp. raised its position in Zimmer Biomet by 16.6% in the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock worth $88,000 after acquiring an additional 95 shares during the period. First Bancorp Inc ME raised its position in Zimmer Biomet by 5.3% in the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after acquiring an additional 100 shares during the period. Ballentine Partners LLC raised its position in Zimmer Biomet by 2.6% in the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 100 shares during the period. Finally, Romano Brothers AND Company raised its position in Zimmer Biomet by 1.1% in the first quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock worth $1,256,000 after acquiring an additional 100 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

ZBH stock opened at $107.38 on Tuesday. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $133.90. The stock has a market cap of $22.09 billion, a PE ratio of 23.24, a P/E/G ratio of 1.92 and a beta of 1.02. The firm has a 50 day simple moving average of $109.92 and a two-hundred day simple moving average of $115.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. TD Cowen lowered their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Oppenheimer lowered their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Evercore ISI reissued an “in-line” rating and issued a $113.00 price target on shares of Zimmer Biomet in a research report on Thursday, September 5th. Wolfe Research started coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Finally, UBS Group decreased their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $125.17.

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.