Wealthfront Advisers LLC Acquires 29,883 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wealthfront Advisers LLC raised its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 927.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,105 shares of the medical equipment provider’s stock after buying an additional 29,883 shares during the quarter. Wealthfront Advisers LLC’s holdings in Zimmer Biomet were worth $3,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZBH. Atria Investments Inc boosted its stake in Zimmer Biomet by 60.2% during the 3rd quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock valued at $586,000 after purchasing an additional 2,041 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Zimmer Biomet in the third quarter valued at approximately $28,000. Oppenheimer & Co. Inc. boosted its position in shares of Zimmer Biomet by 8.6% during the third quarter. Oppenheimer & Co. Inc. now owns 24,995 shares of the medical equipment provider’s stock valued at $2,698,000 after buying an additional 1,977 shares during the last quarter. Hourglass Capital LLC grew its holdings in Zimmer Biomet by 3.7% during the third quarter. Hourglass Capital LLC now owns 45,875 shares of the medical equipment provider’s stock worth $4,952,000 after buying an additional 1,625 shares in the last quarter. Finally, KBC Group NV raised its position in Zimmer Biomet by 64.0% in the 3rd quarter. KBC Group NV now owns 25,287 shares of the medical equipment provider’s stock valued at $2,730,000 after buying an additional 9,864 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of analyst reports. Raymond James cut their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada cut their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Stifel Nicolaus increased their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Price Performance

NYSE ZBH opened at $107.63 on Friday. 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 company has a market cap of $21.43 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $133.90. The firm’s 50-day simple moving average is $105.72 and its two-hundred day simple moving average is $107.06.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $2.20 EPS. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared 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 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.57%.

About Zimmer Biomet

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.