Rhenman & Partners Asset Management AB Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Rhenman & Partners Asset Management AB cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBHFree Report) by 8.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 55,000 shares of the medical equipment provider’s stock after selling 5,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Zimmer Biomet were worth $6,694,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. NEOS Investment Management LLC raised its holdings in shares of Zimmer Biomet by 32.6% during the fourth quarter. NEOS Investment Management LLC now owns 2,960 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 727 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Zimmer Biomet by 18.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 299,155 shares of the medical equipment provider’s stock valued at $36,407,000 after purchasing an additional 47,047 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Zimmer Biomet by 22.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,348 shares of the medical equipment provider’s stock valued at $286,000 after purchasing an additional 428 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of Zimmer Biomet by 34.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 9,476 shares of the medical equipment provider’s stock valued at $1,153,000 after purchasing an additional 2,433 shares during the last quarter. Finally, APG Asset Management US Inc. purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $14,530,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZBH. JPMorgan Chase & Co. boosted their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Evercore ISI boosted their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Citigroup boosted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $133.75.

Get Our Latest Stock Report on Zimmer Biomet

Zimmer Biomet Trading Up 0.3 %

ZBH stock traded up $0.32 during trading on Tuesday, hitting $113.44. The company had a trading volume of 1,186,650 shares, compared to its average volume of 1,443,111. The firm has a market capitalization of $23.34 billion, a P/E ratio of 24.63, a PEG ratio of 2.07 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a 50 day simple moving average of $122.04 and a 200-day simple moving average of $122.05. Zimmer Biomet Holdings, Inc. has a 52-week low of $102.00 and a 52-week high of $147.50.

Zimmer Biomet (NYSE:ZBHGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. Zimmer Biomet’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.89 EPS. As a group, research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s payout ratio is 20.78%.

Zimmer Biomet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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