KCM Investment Advisors LLC Sells 2,315 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

KCM Investment Advisors LLC cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 36,842 shares of the medical equipment provider’s stock after selling 2,315 shares during the period. KCM Investment Advisors LLC’s holdings in Zimmer Biomet were worth $3,892,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new stake in Zimmer Biomet during the fourth quarter worth approximately $25,000. Dunhill Financial LLC increased its position in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Kentucky Trust Co purchased a new stake in Zimmer Biomet during the 4th quarter valued at $39,000. OFI Invest Asset Management bought a new stake in Zimmer Biomet in the fourth quarter worth $40,000. Finally, SRS Capital Advisors Inc. boosted its stake in Zimmer Biomet by 146.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 285 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Raymond James decreased their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Truist Financial reaffirmed a “hold” rating and set a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Barclays cut their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Stock Down 4.6 %

Shares of NYSE ZBH opened at $107.46 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $129.50. The stock’s fifty day simple moving average is $107.32 and its two-hundred day simple moving average is $107.21. The stock has a market capitalization of $21.39 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the prior year, the company earned $2.20 EPS. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is 21.57%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

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.