Altfest L J & Co. Inc. Reduces Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Altfest L J & Co. Inc. trimmed its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,502 shares of the medical equipment provider’s stock after selling 711 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Zimmer Biomet were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ZBH. Vanguard Group Inc. lifted its holdings in shares of Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock valued at $2,954,843,000 after buying an additional 3,695,510 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Zimmer Biomet by 92,041.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider’s stock valued at $234,842,000 after buying an additional 1,839,899 shares during the period. Norges Bank acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at about $231,471,000. Morgan Stanley raised its holdings in Zimmer Biomet by 80.5% in the 4th quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider’s stock worth $395,560,000 after purchasing an additional 1,384,068 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Zimmer Biomet by 657.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,393,963 shares of the medical equipment provider’s stock worth $177,730,000 after purchasing an additional 1,209,827 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

ZBH has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, December 4th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $130.00 price target on shares of Zimmer Biomet in a report on Friday, February 23rd. StockNews.com cut Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Finally, Barclays increased their target price on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $137.84.

Zimmer Biomet Stock Down 0.5 %

NYSE:ZBH opened at $131.98 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The stock’s fifty day moving average is $125.46 and its two-hundred day moving average is $118.13. Zimmer Biomet Holdings, Inc. has a 52 week low of $102.00 and a 52 week high of $149.25. The stock has a market capitalization of $27.07 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.44 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s payout ratio is currently 19.63%.

Insider Activity

In other news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares in the company, valued at $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.

Zimmer Biomet Company 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.