Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 8.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,250 shares of the medical equipment provider’s stock after selling 900 shares during the period. E. Ohman J or Asset Management AB’s holdings in Zimmer Biomet were worth $1,047,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZBH. Franklin Resources Inc. grew its stake in shares of Zimmer Biomet by 398.7% in 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 buying an additional 2,796,372 shares in the last quarter. Norges Bank acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at $216,223,000. Dodge & Cox boosted its holdings in Zimmer Biomet by 12.0% in 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 purchasing an additional 2,044,645 shares during the period. Nuveen Asset Management LLC boosted its holdings in Zimmer Biomet by 191.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider’s stock valued at $146,763,000 after purchasing an additional 913,310 shares during the period. Finally, Sound Shore Management Inc. CT purchased a new position in Zimmer Biomet in the fourth quarter valued at $81,447,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZBH has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Royal Bank of Canada decreased their target price on Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on Zimmer Biomet from $128.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group decreased their target price on Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Finally, JMP Securities decreased their target price on Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.53.

Zimmer Biomet Stock Up 0.6%

ZBH opened at $92.47 on Friday. The business’s 50-day simple moving average is $97.95 and its 200-day simple moving average is $104.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. Zimmer Biomet Holdings, Inc. has a one year low of $89.22 and a one year high of $116.71. The stock has a market capitalization of $18.30 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 1.95 and a beta of 0.72.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping 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 business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm earned $1.94 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 21.24%.

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.