Amalgamated Bank Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Amalgamated Bank reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,485 shares of the medical equipment provider’s stock after selling 6,801 shares during the quarter. Amalgamated Bank’s holdings in Zimmer Biomet were worth $5,739,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on ZBH shares. Barclays upped their target price on Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Citigroup increased 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. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a report on Friday, February 9th. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Tuesday. Finally, TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $134.40.

Zimmer Biomet Stock Down 0.1 %

Shares of ZBH stock traded down $0.08 during trading hours on Tuesday, reaching $118.97. 776,613 shares of the company’s stock were exchanged, compared to its average volume of 1,434,881. The stock has a market cap of $24.48 billion, a PE ratio of 25.90, a PEG ratio of 2.17 and a beta of 1.03. 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 stock’s fifty day moving average price is $124.15 and its two-hundred day moving average price is $121.44. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $147.50.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. Zimmer Biomet’s revenue was up 3.2% compared to the same quarter last year. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. 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 0.81%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Insider Activity

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the sale, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Zimmer Biomet Company 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.