Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Sandhill Capital Partners LLC

Sandhill Capital Partners LLC lowered its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,694 shares of the medical equipment provider’s stock after selling 56,556 shares during the period. Zimmer Biomet comprises 2.9% of Sandhill Capital Partners LLC’s portfolio, making the stock its 16th largest holding. Sandhill Capital Partners LLC owned approximately 0.14% of Zimmer Biomet worth $34,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Naples Money Management LLC purchased a new stake in Zimmer Biomet in the fourth quarter valued at approximately $35,000. Activest Wealth Management grew its stake in Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 275 shares during the period. Peoples Bank KS purchased a new stake in Zimmer Biomet during the third quarter worth approximately $48,000. Impact Partnership Wealth LLC purchased a new stake in Zimmer Biomet during the third quarter worth approximately $52,000. Finally, Blue Trust Inc. grew its stake in Zimmer Biomet by 48.4% during the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock worth $52,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

ZBH has been the subject of several research reports. Raymond James boosted their price objective on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Citigroup boosted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded down $1.42 on Thursday, reaching $119.75. 1,078,771 shares of the company’s stock were exchanged, compared to its average volume of 1,453,584. The firm has a market capitalization of $24.60 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.23 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $149.25. The business’s 50-day moving average is $126.18 and its two-hundred day moving average is $119.46. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. As a group, equities research analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.07 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio is currently 19.63%.

Insider Transactions at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.95% of the company’s stock.

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.