Moore Capital Management LP Makes New Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Moore Capital Management LP acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,119 shares of the medical equipment provider’s stock, valued at approximately $4,977,000.

Several other hedge funds have also recently modified their holdings of the stock. Dodge & Cox increased its holdings in shares of Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock valued at $2,019,480,000 after acquiring an additional 2,044,645 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Zimmer Biomet by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider’s stock valued at $1,559,147,000 after acquiring an additional 176,337 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after acquiring an additional 218,688 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock valued at $369,469,000 after acquiring an additional 2,796,372 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Zimmer Biomet by 7.6% during the fourth quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider’s stock valued at $250,367,000 after acquiring an additional 167,435 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the 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. This represents a 14.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.39% of the company’s stock.

Zimmer Biomet Trading Up 3.1%

Shares of NYSE:ZBH opened at $98.18 on Tuesday. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.92 and a 1 year high of $122.25. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. 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 business’s 50 day moving average price is $104.30 and its 200-day moving average price is $106.10.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $1.94 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.98%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.24%.

Analysts Set New Price Targets

ZBH has been the topic of several recent analyst reports. Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the company a “buy” rating in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their target price on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird dropped their target price on Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. dropped their target price on Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average target price of $113.45.

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.