Meyer Handelman Co. Sells 3,180 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Meyer Handelman Co. lessened its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,540 shares of the medical equipment provider's stock after selling 3,180 shares during the quarter. Meyer Handelman Co.'s holdings in Zimmer Biomet were worth $4,494,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Equity Investment Corp acquired a new stake in shares of Zimmer Biomet in the 3rd quarter worth approximately $70,104,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider's stock valued at $189,161,000 after buying an additional 577,320 shares during the period. Magnetar Financial LLC boosted its stake in Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider's stock valued at $142,203,000 after buying an additional 484,816 shares in the last quarter. Van ECK Associates Corp grew its holdings in Zimmer Biomet by 12.4% during the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider's stock worth $391,239,000 after acquiring an additional 411,163 shares during the period. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Zimmer Biomet in the third quarter worth about $41,588,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ZBH shares. Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. BTIG Research reduced their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Oppenheimer decreased their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 15th. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Finally, Raymond James decreased their target price on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $123.33.

Zimmer Biomet Stock Up 1.6 %

Shares of ZBH traded up $1.63 during midday trading on Wednesday, reaching $106.34. 1,309,391 shares of the stock were exchanged, compared to its average volume of 1,621,480. The company has a market cap of $21.17 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.96 and a beta of 1.02. The firm has a 50 day simple moving average of $107.88 and a 200-day simple moving average of $107.97. Zimmer Biomet Holdings, Inc. has a 12-month low of $100.67 and a 12-month high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company's revenue was up 4.1% compared to the same quarter last year. Research analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.90%. Zimmer Biomet's dividend payout ratio (DPR) is currently 18.25%.

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.