Rhenman & Partners Asset Management AB Takes $20.09 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Rhenman & Partners Asset Management AB acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 138,000 shares of the medical equipment provider’s stock, valued at approximately $20,093,000. Zimmer Biomet accounts for 2.1% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 19th largest position. Rhenman & Partners Asset Management AB owned 0.07% of Zimmer Biomet as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cutler Group LLC CA purchased a new stake in Zimmer Biomet during the first quarter valued at about $25,000. Clear Street Markets LLC purchased a new stake in Zimmer Biomet during the fourth quarter valued at about $27,000. Horizon Bancorp Inc. IN grew its position in Zimmer Biomet by 1,483.3% during the second quarter. Horizon Bancorp Inc. IN now owns 190 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 178 shares during the period. Orion Capital Management LLC grew its position in Zimmer Biomet by 234.7% during the first quarter. Orion Capital Management LLC now owns 251 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 176 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in Zimmer Biomet during the first quarter valued at about $35,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ZBH shares. BTIG Research raised Zimmer Biomet from a “neutral” rating to a “buy” rating and set a $139.00 price target for the company in a research report on Monday, August 28th. Raymond James reduced their price objective on Zimmer Biomet from $160.00 to $133.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. StockNews.com began coverage on Zimmer Biomet in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Roth Mkm began coverage on Zimmer Biomet in a research note on Friday, October 20th. They set a “neutral” rating and a $120.00 price objective on the stock. Finally, JMP Securities reduced their price objective on Zimmer Biomet from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $139.10.

Zimmer Biomet Stock Up 0.3 %

NYSE ZBH traded up $0.36 on Tuesday, hitting $112.86. 330,558 shares of the stock traded hands, compared to its average volume of 1,535,420. The stock has a 50-day moving average of $110.09 and a 200 day moving average of $124.73. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $149.25. The company has a market capitalization of $23.59 billion, a P/E ratio of 49.78, a price-to-earnings-growth ratio of 2.23 and a beta of 1.02. The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Tuesday, November 7th. The medical equipment provider reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.06. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Zimmer Biomet had a return on equity of 12.41% and a net margin of 6.52%. Zimmer Biomet’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 earnings per share. As a group, analysts expect that Zimmer Biomet Holdings, Inc. will post 7.51 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Thursday, September 28th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 42.48%.

Insider Activity

In related news, Director Sreelakshmi Kolli bought 1,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was bought at an average cost of $120.37 per share, with a total value of $120,370.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $120,370. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Zimmer Biomet news, Director Sreelakshmi Kolli acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average cost of $120.37 per share, with a total value of $120,370.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $120,370. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael W. Michelson acquired 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $115.50 per share, with a total value of $150,150.00. Following the completion of the acquisition, the director now directly owns 3,385 shares in the company, valued at $390,967.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 5,300 shares of company stock valued at $619,090. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.