Vanguard Group Inc. Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Vanguard Group Inc. reduced its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,886,162 shares of the medical equipment provider’s stock after selling 398,676 shares during the period. Vanguard Group Inc. owned approximately 11.50% of Zimmer Biomet worth $2,417,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $25,000. Dunhill Financial LLC lifted its position in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Brooklyn Investment Group acquired a new position in Zimmer Biomet during the third quarter worth $35,000. Kentucky Trust Co purchased a new stake in Zimmer Biomet in the 4th quarter valued at $39,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth $40,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.95% of the stock is currently owned by corporate insiders.

Zimmer Biomet Trading Down 0.7 %

ZBH opened at $110.50 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The stock has a market capitalization of $22.00 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.95 and a beta of 1.04. The business has a fifty day moving average price of $106.98 and a 200 day moving average price of $106.90. Zimmer Biomet Holdings, Inc. has a 12 month low of $97.69 and a 12 month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the business earned $2.20 EPS. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s payout ratio is currently 21.57%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of 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 dropped their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.15.

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.