Edgestream Partners L.P. Has $1.22 Million Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Edgestream Partners L.P. increased its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 365.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,469 shares of the medical equipment provider’s stock after purchasing an additional 10,574 shares during the quarter. Edgestream Partners L.P.’s holdings in Zimmer Biomet were worth $1,218,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. DV Equities LLC acquired a new position in Zimmer Biomet during the 4th quarter worth about $25,000. Monetary Solutions Ltd acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $30,000. Gen Wealth Partners Inc acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $31,000. Flagship Harbor Advisors LLC bought a new position in shares of Zimmer Biomet during the fourth quarter worth about $32,000. Finally, Cornerstone Financial Management LLC acquired a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $37,000. 88.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Stifel Nicolaus reduced their target price on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price target on shares of Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp reduced their price objective on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Citigroup lowered their target price on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $102.00.

Insider Activity

In other news, insider Sang Yi sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider owned 27,251 shares of the company’s stock, valued at $2,252,022.64. This trade represents a 15.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.28% of the company’s stock.

Zimmer Biomet Stock Up 3.2%

Shares of Zimmer Biomet stock opened at $96.92 on Tuesday. The stock’s 50-day moving average is $89.07 and its 200 day moving average is $89.91. Zimmer Biomet Holdings, Inc. has a one year low of $79.12 and a one year high of $108.29. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.77 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, June 25th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.96 annualized dividend and a yield of 1.0%. Zimmer Biomet’s payout ratio is 24.94%.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.