Jacobs & Co. CA Cuts Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Jacobs & Co. CA cut its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,708 shares of the medical equipment provider’s stock after selling 2,641 shares during the quarter. Jacobs & Co. CA’s holdings in Zimmer Biomet were worth $3,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ZBH. Vanguard Group Inc. increased its position in shares of Zimmer Biomet by 19.0% during the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after purchasing an additional 3,695,510 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Zimmer Biomet by 92,041.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider’s stock worth $234,842,000 after acquiring an additional 1,839,899 shares during the last quarter. Norges Bank acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth $231,471,000. Morgan Stanley increased its stake in shares of Zimmer Biomet by 80.5% in the 4th quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider’s stock worth $395,560,000 after acquiring an additional 1,384,068 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Zimmer Biomet by 657.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,393,963 shares of the medical equipment provider’s stock worth $177,730,000 after purchasing an additional 1,209,827 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ZBH shares. Raymond James increased their price target on Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. JPMorgan Chase & Co. increased their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Canaccord Genuity Group reissued a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. Finally, Morgan Stanley raised their target price on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.84.

Insider Transactions at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Zimmer Biomet Stock Up 3.9 %

Zimmer Biomet stock opened at $132.61 on Thursday. The stock’s 50 day moving average price is $125.25 and its 200 day moving average price is $118.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. The company has a market cap of $27.20 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 1-year low of $102.00 and a 1-year high of $149.25.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. Zimmer Biomet’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 earnings per share. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.72%. Zimmer Biomet’s dividend payout ratio (DPR) is 19.63%.

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.