Geode Capital Management LLC Reduces Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Geode Capital Management LLC lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 0.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,877,062 shares of the medical equipment provider’s stock after selling 2,323 shares during the quarter. Geode Capital Management LLC owned approximately 2.45% of Zimmer Biomet worth $513,809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ZBH. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet during the fourth quarter valued at approximately $25,000. Dunhill Financial LLC boosted its holdings in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Kentucky Trust Co purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at $39,000. OFI Invest Asset Management bought a new position in shares of Zimmer Biomet in the fourth quarter worth $40,000. Finally, SRS Capital Advisors Inc. raised its position in shares of Zimmer Biomet by 146.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 479 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Price Performance

ZBH stock opened at $112.72 on Friday. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.95 and a beta of 1.04. The firm’s 50-day moving average price is $107.38 and its two-hundred day moving average price is $107.21. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12-month low of $97.69 and a 12-month high of $130.89.

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, beating analysts’ consensus estimates 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 firm posted $2.20 EPS. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their target price on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Raymond James lowered their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Barclays cut their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $124.15.

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.