Hartford Investment Management Co. Sells 503 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Hartford Investment Management Co. lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,266 shares of the medical equipment provider’s stock after selling 503 shares during the period. Hartford Investment Management Co.’s holdings in Zimmer Biomet were worth $1,296,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ZBH. Equity Investment Corp bought a new position in shares of Zimmer Biomet in the third quarter worth $70,104,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after buying an additional 577,320 shares in the last quarter. Van ECK Associates Corp boosted its stake in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Zimmer Biomet in the third quarter valued at about $41,588,000. Finally, FMR LLC boosted its stake in Zimmer Biomet by 27.6% in the third quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after buying an additional 162,384 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. JMP Securities reissued a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, Wells Fargo & Company lifted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Trading Up 0.6 %

NYSE ZBH opened at $100.52 on Friday. The company has a market cap of $20.01 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.83 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $133.90. The business has a 50 day moving average price of $106.49 and a 200-day moving average price of $107.79. The company has a quick ratio of 0.70, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the prior year, the business earned $2.20 earnings per share. As a group, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.25 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.96%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 21.57%.

About Zimmer Biomet

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.