Causeway Capital Management LLC Sells 24,356 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Causeway Capital Management LLC trimmed its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 769,932 shares of the medical equipment provider's stock after selling 24,356 shares during the period. Zimmer Biomet makes up approximately 1.9% of Causeway Capital Management LLC's portfolio, making the stock its 9th biggest holding. Causeway Capital Management LLC owned approximately 0.39% of Zimmer Biomet worth $81,328,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ZBH. Van ECK Associates Corp boosted its holdings in Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock valued at $417,814,000 after acquiring an additional 218,688 shares in the last quarter. Franklin Resources Inc. raised its holdings in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after purchasing an additional 2,796,372 shares during the period. Norges Bank bought a new stake in Zimmer Biomet during the fourth quarter valued at about $216,223,000. FMR LLC boosted its holdings in shares of Zimmer Biomet by 91.6% during the 4th quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after purchasing an additional 687,675 shares during the last quarter. Finally, Equity Investment Corp lifted its holdings in shares of Zimmer Biomet by 57.2% in the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider's stock worth $107,855,000 after acquiring an additional 371,653 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of 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 reduced their target price on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a research note on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Barclays decreased their price target on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $124.15.

Insider Buying and Selling

In other 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $0.96 during trading hours on Friday, reaching $97.90. 4,367,870 shares of the company's stock were exchanged, compared to its average volume of 1,650,696. Zimmer Biomet Holdings, Inc. has a 1-year low of $96.58 and a 1-year high of $123.96. The firm has a market capitalization of $19.37 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.95 and a beta of 0.84. The company has a 50-day moving average of $105.95 and a 200 day moving average of $106.78. 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 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 period in the previous year, the firm posted $2.20 earnings per share. Research 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. Investors of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 0.98%. Zimmer Biomet's dividend payout ratio is currently 21.57%.

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.