Summit Financial LLC Takes $204,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Summit Financial LLC bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,924 shares of the medical equipment provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after purchasing an additional 218,688 shares during the last quarter. Norges Bank purchased a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $216,223,000. Equity Investment Corp raised its position in Zimmer Biomet by 57.2% during the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock valued at $107,855,000 after purchasing an additional 371,653 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new position in shares of Zimmer Biomet during the 4th quarter worth $81,447,000. Institutional investors own 88.89% of the company’s stock.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several analyst reports. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Barclays cut their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Raymond James lowered their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Price Performance

Shares of ZBH opened at $107.46 on Friday. The firm has a 50-day simple moving average of $107.32 and a two-hundred day simple moving average of $107.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. Zimmer Biomet Holdings, Inc. has a 1-year low of $97.69 and a 1-year high of $129.50. The stock has a market cap of $21.39 billion, a PE ratio of 24.15, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $2.20 EPS. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s dividend 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.