Rhumbline Advisers Reduces Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Rhumbline Advisers reduced its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 403,638 shares of the medical equipment provider’s stock after selling 8,413 shares during the quarter. Rhumbline Advisers owned 0.20% of Zimmer Biomet worth $42,636,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Equity Investment Corp bought a new stake in shares of Zimmer Biomet during the 3rd quarter worth approximately $70,104,000. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Zimmer Biomet by 49.1% during 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 acquiring an additional 577,320 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of 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 purchasing an additional 411,163 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Zimmer Biomet in the third quarter worth approximately $41,588,000. Finally, FMR LLC increased its holdings in Zimmer Biomet by 27.6% during the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock worth $80,999,000 after purchasing an additional 162,384 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZBH shares. Royal Bank of Canada dropped their price target on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their target price for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Raymond James lowered their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Barclays cut 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, JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Stock Up 0.6 %

Zimmer Biomet stock opened at $100.52 on Tuesday. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $133.90. The firm has a market cap of $20.01 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. The business’s 50-day moving average price is $106.34 and its 200 day moving average price is $107.67. 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 announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 prior year, the firm earned $2.20 EPS. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.25 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s payout ratio is currently 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.