Proficio Capital Partners LLC Takes $55,000 Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Proficio Capital Partners LLC purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,928 shares of the medical equipment provider's stock, valued at approximately $55,000.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake 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 worth $524,942,000 after acquiring an additional 125,852 shares during the last quarter. Van ECK Associates Corp increased its position in Zimmer Biomet by 5.9% during the 4th 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 in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Zimmer Biomet by 49.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider's stock worth $189,161,000 after buying an additional 577,320 shares during the period. Equity Investment Corp grew its position in shares of Zimmer Biomet by 57.2% during the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider's stock worth $107,855,000 after buying an additional 371,653 shares in the last quarter. Finally, FMR LLC grew its stake in Zimmer Biomet by 27.6% during the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider's stock worth $80,999,000 after buying an additional 162,384 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Raymond James reduced their price target on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Barclays dropped their target price on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a "neutral" rating to an "overweight" rating and increased their price target for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Royal Bank of Canada reduced their target price on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $124.15.

Zimmer Biomet Stock Up 0.2 %

Zimmer Biomet stock traded up $0.17 during mid-day trading on Wednesday, hitting $112.54. The company had a trading volume of 1,145,140 shares, compared to its average volume of 1,570,196. 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. The company has a market capitalization of $22.40 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The stock's 50 day moving average price is $107.35 and its two-hundred day moving average price is $107.18.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released 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 net margin of 11.77% and a return on equity of 12.99%. During the same period last year, the business posted $2.20 earnings per share. As a group, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 0.85%. Zimmer Biomet's payout ratio is currently 21.57%.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 1,443 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

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.