Reinhart Partners Inc. reduced its position in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 40.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,317 shares of the medical equipment provider’s stock after selling 2,240 shares during the period. Reinhart Partners Inc.’s holdings in Zimmer Biomet were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZBH. Allworth Financial LP grew its position in Zimmer Biomet by 65.0% in the 3rd quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Evoke Wealth LLC acquired a new stake in Zimmer Biomet during the third quarter worth about $37,000. Bridger Capital Management LLC acquired a new stake in Zimmer Biomet during the third quarter worth about $39,000. Usca Ria LLC acquired a new stake in Zimmer Biomet during the third quarter worth about $39,000. Finally, Sound Income Strategies LLC acquired a new stake in Zimmer Biomet during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 87.45% of the company’s stock.
Several research firms recently weighed in on ZBH. Raymond James upgraded shares of Zimmer Biomet from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $160.00 to $170.00 in a research note on Wednesday, December 4th. Piper Jaffray Companies raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Tuesday, January 7th. Royal Bank of Canada increased their price objective on shares of Zimmer Biomet from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank began coverage on shares of Zimmer Biomet in a research report on Friday, January 3rd. They issued a “hold” rating and a $108.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Zimmer Biomet from a “sell” rating to a “hold” rating and set a $149.00 price objective on the stock in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $154.35.
Zimmer Biomet stock traded down $0.01 during midday trading on Monday, reaching $147.79. The stock had a trading volume of 11,547 shares, compared to its average volume of 763,486. Zimmer Biomet Holdings Inc has a 12 month low of $105.35 and a 12 month high of $151.70. The firm’s 50-day moving average price is $149.09 and its 200 day moving average price is $139.66. The firm has a market capitalization of $30.20 billion, a PE ratio of -301.50, a P/E/G ratio of 2.50 and a beta of 1.15. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 0.53.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.02. Zimmer Biomet had a positive return on equity of 13.71% and a negative net margin of 1.14%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Zimmer Biomet Holdings Inc will post 7.83 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, December 26th. Zimmer Biomet’s dividend payout ratio is currently 12.57%.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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