Pointe Capital Management LLC Sells 1,548 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Pointe Capital Management LLC lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,364 shares of the medical equipment provider’s stock after selling 1,548 shares during the quarter. Pointe Capital Management LLC’s holdings in Zimmer Biomet were worth $288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PFG Advisors grew its holdings in Zimmer Biomet by 4.6% during the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after purchasing an additional 84 shares during the period. Quent Capital LLC raised its stake in Zimmer Biomet by 21.6% during the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 92 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Zimmer Biomet by 5.0% in the third quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock worth $227,000 after purchasing an additional 97 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Zimmer Biomet by 3.8% during the 3rd quarter. Financial Advocates Investment Management now owns 2,625 shares of the medical equipment provider’s stock valued at $295,000 after buying an additional 97 shares in the last quarter. Finally, Stokes Family Office LLC boosted its holdings in Zimmer Biomet by 4.1% in the 3rd quarter. Stokes Family Office LLC now owns 2,498 shares of the medical equipment provider’s stock worth $280,000 after buying an additional 99 shares during the period. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Trading Up 2.7 %

Shares of ZBH stock traded up $3.20 during trading hours on Friday, reaching $121.66. 1,847,585 shares of the stock were exchanged, compared to its average volume of 1,304,580. The company has a current ratio of 1.66, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $147.50. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The company’s 50-day moving average price is $125.45 and its 200-day moving average price is $119.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.08 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ZBH has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 9th. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Barclays boosted their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Truist Financial cut their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research note on Friday. Finally, StockNews.com cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $135.40.

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.