Olstein Capital Management L.P. Has $8.11 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Olstein Capital Management L.P. lifted its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,635 shares of the medical equipment provider’s stock after acquiring an additional 9,635 shares during the quarter. Zimmer Biomet makes up approximately 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 29th largest position. Olstein Capital Management L.P.’s holdings in Zimmer Biomet were worth $8,109,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. PFG Advisors raised its holdings in shares of Zimmer Biomet by 4.6% during the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after acquiring an additional 84 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in shares of Zimmer Biomet by 1.3% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 6,452 shares of the medical equipment provider’s stock worth $823,000 after buying an additional 85 shares during the period. Quent Capital LLC lifted its position in Zimmer Biomet by 21.6% during the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 92 shares during the period. Pinnacle Associates Ltd. lifted its position in Zimmer Biomet by 5.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock valued at $227,000 after acquiring an additional 97 shares during the period. Finally, Financial Advocates Investment Management boosted its stake in Zimmer Biomet by 3.8% during the third quarter. Financial Advocates Investment Management now owns 2,625 shares of the medical equipment provider’s stock worth $295,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 9th. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. JPMorgan Chase & Co. raised their price target on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.39.

Insider Transactions at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the company’s 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 sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $126.93 on Monday. The stock has a market cap of $26.08 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. The stock’s fifty day moving average is $126.50 and its 200 day moving average is $118.51. Zimmer Biomet Holdings, Inc. has a one year low of $102.00 and a one year high of $149.25.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.79% and a net margin of 13.85%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.76%. Zimmer Biomet’s payout ratio is 19.63%.

Zimmer Biomet Company 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.