Sound Shore Management Inc. CT Invests $81.45 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sound Shore Management Inc. CT bought a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the fourth quarter, HoldingsChannel.com reports. The fund bought 771,063 shares of the medical equipment provider’s stock, valued at approximately $81,447,000. Zimmer Biomet comprises about 2.7% of Sound Shore Management Inc. CT’s holdings, making the stock its 16th largest holding.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC boosted its position in Zimmer Biomet by 6.8% in the third quarter. Empowered Funds LLC now owns 4,135 shares of the medical equipment provider’s stock worth $446,000 after purchasing an additional 265 shares during the last quarter. Intech Investment Management LLC boosted its position in Zimmer Biomet by 21.3% in the third quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock worth $257,000 after purchasing an additional 417 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Zimmer Biomet by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock worth $108,621,000 after purchasing an additional 4,388 shares during the last quarter. Cerity Partners LLC boosted its position in Zimmer Biomet by 28.7% in the third quarter. Cerity Partners LLC now owns 40,307 shares of the medical equipment provider’s stock worth $4,351,000 after purchasing an additional 8,999 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Zimmer Biomet by 61.9% in the third quarter. Larson Financial Group LLC now owns 3,407 shares of the medical equipment provider’s stock worth $368,000 after purchasing an additional 1,302 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZBH has been the topic of several research reports. Royal Bank of Canada dropped their target price on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Raymond James decreased their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Barclays decreased their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Trading Down 0.9 %

Shares of NYSE ZBH opened at $110.79 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $106.74 and a two-hundred day simple moving average of $106.81. The firm has a market cap of $22.05 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate 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 period last year, the business posted $2.20 earnings per share. Analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company’s stock.

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.