Meridiem Capital Partners LP Takes Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Meridiem Capital Partners LP purchased a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 108,932 shares of the medical equipment provider’s stock, valued at approximately $11,506,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZBH. CKW Financial Group grew its position in shares of Zimmer Biomet by 11.7% during the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 100 shares during the last quarter. Romano Brothers AND Company lifted its holdings in Zimmer Biomet by 1.1% in the fourth quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock valued at $1,000,000 after acquiring an additional 102 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of Zimmer Biomet by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock worth $485,000 after buying an additional 102 shares during the last quarter. M&T Bank Corp raised its stake in shares of Zimmer Biomet by 0.4% during the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock worth $2,834,000 after buying an additional 108 shares during the last quarter. Finally, MGO One Seven LLC increased its position in Zimmer Biomet by 5.1% during the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet 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 transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This represents a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Truist Financial set a $101.00 price target on Zimmer Biomet in a report on Tuesday, May 6th. Canaccord Genuity Group reduced their price target on Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating on the stock in a research report on Monday. BTIG Research reaffirmed a “buy” rating on shares of Zimmer Biomet in a research report on Monday, April 14th. JMP Securities lowered their price target 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. Finally, Raymond James lowered their price objective on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $113.45.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $98.18 on Tuesday. The stock’s fifty day moving average price is $104.30 and its two-hundred day moving average price is $106.10. Zimmer Biomet Holdings, Inc. has a one year low of $89.92 and a one year high of $122.25. 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 firm has a market cap of $19.42 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. Zimmer Biomet’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. As a group, research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

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

Zimmer Biomet 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.