United Asset Strategies Inc. Decreases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

United Asset Strategies Inc. trimmed its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,798 shares of the medical equipment provider’s stock after selling 2,754 shares during the period. United Asset Strategies Inc.’s holdings in Zimmer Biomet were worth $1,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ZBH. Fairfield Bush & CO. purchased a new position in shares of Zimmer Biomet during the first quarter valued at approximately $111,000. United Bank grew its position in Zimmer Biomet by 4.1% during the first quarter. United Bank now owns 11,072 shares of the medical equipment provider’s stock valued at $1,416,000 after buying an additional 437 shares during the period. Panagora Asset Management Inc. grew its position in Zimmer Biomet by 153.9% during the first quarter. Panagora Asset Management Inc. now owns 9,803 shares of the medical equipment provider’s stock valued at $1,254,000 after buying an additional 5,942 shares during the period. Aviva PLC grew its position in Zimmer Biomet by 0.4% during the first quarter. Aviva PLC now owns 30,636 shares of the medical equipment provider’s stock valued at $3,918,000 after buying an additional 137 shares during the period. Finally, Allianz Asset Management GmbH grew its position in Zimmer Biomet by 11.2% during the first quarter. Allianz Asset Management GmbH now owns 41,816 shares of the medical equipment provider’s stock valued at $5,348,000 after buying an additional 4,224 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 1.6 %

Shares of Zimmer Biomet stock opened at $122.07 on Wednesday. The firm’s 50 day moving average price is $126.59 and its 200-day moving average price is $119.09. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $149.25. The company has a market cap of $25.08 billion, a P/E ratio of 24.96, a PEG ratio of 2.28 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 19.63%.

Insiders Place Their Bets

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the business’s 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 sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Canaccord Genuity Group restated a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. Barclays upped their price target on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Monday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 9th. Evercore ISI upped their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Raymond James upped their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $139.39.

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.