Wedge Capital Management L L P NC Sells 8,252 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wedge Capital Management L L P NC lessened its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) by 2.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 388,825 shares of the medical equipment provider’s stock after selling 8,252 shares during the period. Wedge Capital Management L L P NC’s holdings in Zimmer Biomet were worth $49,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Amplius Wealth Advisors LLC bought a new stake in Zimmer Biomet in the fourth quarter valued at $26,000. Widmann Financial Services Inc. bought a new stake in Zimmer Biomet in the fourth quarter valued at $28,000. FSB Premier Wealth Management Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at about $33,000. US Asset Management LLC acquired a new position in shares of Zimmer Biomet during the first quarter valued at about $33,000. Finally, Paragon Capital Management Ltd acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at about $34,000. 90.34% of the stock is owned by institutional investors and hedge funds.

ZBH has been the subject of a number of analyst reports. Needham & Company LLC cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Stifel Nicolaus lifted their price objective on shares of Zimmer Biomet from $130.00 to $140.00 in a report on Tuesday, May 3rd. Bank of America initiated coverage on shares of Zimmer Biomet in a report on Tuesday, March 1st. They set an “underperform” rating and a $120.00 price objective for the company. Loop Capital cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a report on Wednesday, March 2nd. Finally, Citigroup reduced their price objective on shares of Zimmer Biomet from $135.00 to $125.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $141.00.

ZBH stock traded up $3.08 during mid-day trading on Wednesday, hitting $105.31. The company had a trading volume of 14,158 shares, compared to its average volume of 1,166,180. The stock’s fifty day moving average price is $118.67 and its two-hundred day moving average price is $121.98. Zimmer Biomet Holdings, Inc. has a 12 month low of $101.98 and a 12 month high of $167.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.89 and a current ratio of 1.69. The firm has a market cap of $22.07 billion, a PE ratio of 99.25, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH – Get Rating) last posted its earnings results on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.21. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.59 billion. Zimmer Biomet had a net margin of 2.85% and a return on equity of 12.23%. Zimmer Biomet’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 EPS. Equities analysts anticipate that Zimmer Biomet Holdings, Inc. will post 6.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Monday, June 27th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 24th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Zimmer Biomet’s dividend payout ratio is presently 93.20%.

Zimmer Biomet Profile (Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

See Also