Beaumont Asset Management L.L.C. Trims Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Beaumont Asset Management L.L.C. cut its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,403 shares of the medical equipment provider’s stock after selling 1,163 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Zimmer Biomet were worth $658,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Community Bank & Trust Waco Texas increased its stake in shares of Zimmer Biomet by 60.6% during the fourth quarter. Community Bank & Trust Waco Texas now owns 5,736 shares of the medical equipment provider’s stock valued at $698,000 after buying an additional 2,164 shares during the period. Wedge Capital Management L L P NC grew its stake in Zimmer Biomet by 3.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 123,822 shares of the medical equipment provider’s stock worth $15,069,000 after purchasing an additional 4,000 shares during the period. RWA Wealth Partners LLC purchased a new stake in Zimmer Biomet in the fourth quarter worth $375,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Zimmer Biomet by 1.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,859 shares of the medical equipment provider’s stock worth $2,295,000 after purchasing an additional 344 shares during the period. Finally, Signaturefd LLC grew its stake in Zimmer Biomet by 12.8% in the fourth quarter. Signaturefd LLC now owns 2,146 shares of the medical equipment provider’s stock worth $261,000 after purchasing an additional 243 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup upped their price target on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Evercore ISI boosted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Finally, TheStreet raised 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, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and a consensus price target of $139.39.

Insider Activity at Zimmer Biomet

In related 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 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded up $0.74 during trading on Tuesday, hitting $121.52. 742,692 shares of the company’s stock were exchanged, compared to its average volume of 1,460,520. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $149.25. The business’s 50-day simple moving average is $126.23 and its 200 day simple moving average is $119.37. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.19 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the business posted $1.88 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Dividend Announcement

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