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

Rhenman & Partners Asset Management AB acquired a new stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 124,000 shares of the medical equipment provider's stock, valued at approximately $13,098,000. Rhenman & Partners Asset Management AB owned approximately 0.06% of Zimmer Biomet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZBH. Resona Asset Management Co. Ltd. acquired a new stake in Zimmer Biomet during the fourth quarter worth $6,516,000. Prudential PLC lifted its position in shares of Zimmer Biomet by 4.1% during the 4th quarter. Prudential PLC now owns 73,981 shares of the medical equipment provider's stock worth $7,815,000 after purchasing an additional 2,936 shares during the last quarter. Atlas Capital Advisors Inc. raised its position in shares of Zimmer Biomet by 2,385.5% during the 4th quarter. Atlas Capital Advisors Inc. now owns 4,126 shares of the medical equipment provider's stock worth $436,000 after acquiring an additional 3,960 shares in the last quarter. Magellan Asset Management Ltd grew its holdings in shares of Zimmer Biomet by 43.7% during the fourth quarter. Magellan Asset Management Ltd now owns 394,374 shares of the medical equipment provider's stock worth $41,658,000 after purchasing an additional 119,869 shares during the last quarter. Finally, ExodusPoint Capital Management LP boosted its holdings in shares of Zimmer Biomet by 22.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 183,395 shares of the medical equipment provider's stock valued at $19,372,000 after acquiring an additional 33,086 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ZBH shares. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. 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 report on Friday, February 7th. JPMorgan Chase & Co. raised Zimmer Biomet from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $125.00 to $128.00 in a report on Tuesday, December 17th. Stifel Nicolaus upped their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Barclays decreased their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $124.15.

Zimmer Biomet Stock Performance

NYSE:ZBH traded down $1.98 during trading hours on Thursday, reaching $101.46. 1,150,428 shares of the stock were exchanged, compared to its average volume of 1,613,828. The stock has a market capitalization of $20.20 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.95 and a beta of 0.84. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $128.55. The firm has a 50 day simple moving average of $106.54 and a 200-day simple moving average of $107.10. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 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 quarter last year, the company earned $2.20 earnings per share. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's payout ratio is currently 21.57%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company's 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 completion of the sale, the senior vice president now directly owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is 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.