Edgestream Partners L.P. Cuts Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Edgestream Partners L.P. reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 59.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,987 shares of the medical equipment provider’s stock after selling 8,900 shares during the quarter. Edgestream Partners L.P.’s holdings in Zimmer Biomet were worth $632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Equity Investment Corp purchased a new position in shares of Zimmer Biomet in the 3rd quarter worth about $70,104,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after buying an additional 577,320 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Zimmer Biomet during the third quarter valued at about $41,588,000. Van ECK Associates Corp lifted its holdings in 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 purchasing an additional 218,688 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Zimmer Biomet during the fourth quarter valued at about $21,234,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s 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 sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada dropped their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 7th. Barclays dropped their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Finally, Raymond James dropped their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Stock Down 3.0 %

ZBH stock opened at $104.10 on Thursday. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $105.65 and its 200 day moving average is $107.05. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the previous year, the company earned $2.20 EPS. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is 21.57%.

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.