Edgestream Partners L.P. Sells 8,900 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Edgestream Partners L.P. reduced its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 59.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,987 shares of the medical equipment provider's stock after selling 8,900 shares during the quarter. Edgestream Partners L.P.'s holdings in Zimmer Biomet were worth $632,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Roman Butler Fullerton & Co. acquired a new position in Zimmer Biomet in the 4th quarter valued at $473,000. Geode Capital Management LLC grew its stake in shares of Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock valued at $524,942,000 after acquiring an additional 125,852 shares in the last quarter. M&T Bank Corp increased its position in Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider's stock worth $2,884,000 after acquiring an additional 8,709 shares during the period. KLCM Advisors Inc. acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $7,825,000. Finally, Peddock Capital Advisors LLC bought a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $654,000. Institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Truist Financial reiterated a "hold" rating and issued a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Stifel Nicolaus upped their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. JMP Securities reissued a "market outperform" rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Royal Bank of Canada reduced their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $124.15.

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Zimmer Biomet Trading Up 3.5 %

NYSE ZBH traded up $3.60 during mid-day trading on Thursday, reaching $107.63. 2,062,515 shares of the stock were exchanged, compared to its average volume of 1,921,875. The stock has a 50 day simple moving average of $105.65 and a 200-day simple moving average of $107.05. Zimmer Biomet Holdings, Inc. has a one year low of $97.69 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The stock has a market cap of $21.43 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm earned $2.20 EPS. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, March 31st. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly 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 filing with the SEC, which is available at this link. Company insiders own 0.95% of the company's stock.

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.