Victory Capital Management Inc. Sells 3,098,415 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Victory Capital Management Inc. reduced its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 97.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,111 shares of the medical equipment provider's stock after selling 3,098,415 shares during the period. Victory Capital Management Inc.'s holdings in Zimmer Biomet were worth $8,779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Roman Butler Fullerton & Co. bought a new position in shares of Zimmer Biomet in the 4th quarter worth $473,000. Geode Capital Management LLC boosted its position in shares of Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider's stock worth $524,942,000 after purchasing an additional 125,852 shares during the last quarter. M&T Bank Corp lifted its holdings 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 in the last quarter. KLCM Advisors Inc. bought a new position in Zimmer Biomet during the fourth quarter worth about $7,825,000. Finally, Peddock Capital Advisors LLC bought a new position in Zimmer Biomet during the fourth quarter worth about $654,000. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded up $2.53 on Friday, hitting $110.10. The stock had a trading volume of 2,301,092 shares, compared to its average volume of 1,929,614. Zimmer Biomet Holdings, Inc. has a twelve month low of $97.69 and a twelve month high of $133.90. The business's 50 day moving average is $105.72 and its two-hundred day moving average is $107.06. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04.

Remove Ads

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 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 in the prior year, the business earned $2.20 EPS. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Zimmer Biomet's payout ratio is 21.57%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZBH shares. JMP Securities reiterated a "market outperform" rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Stifel Nicolaus boosted their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Royal Bank of Canada cut their price target 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, Barclays cut their price target on 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 given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $124.15.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.95% of the stock is owned by company 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.