Easterly Investment Partners LLC Sells 7,349 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Easterly Investment Partners LLC reduced its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 10.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,232 shares of the medical equipment provider’s stock after selling 7,349 shares during the quarter. Easterly Investment Partners LLC’s holdings in Zimmer Biomet were worth $6,890,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares during the period. Van ECK Associates Corp raised its holdings in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after purchasing an additional 218,688 shares during the last quarter. Norges Bank acquired a new position in Zimmer Biomet during the fourth quarter valued at $216,223,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in 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 purchasing an additional 577,320 shares during the last quarter. Finally, Equity Investment Corp raised its stake in shares of Zimmer Biomet by 57.2% during the 4th quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock valued at $107,855,000 after buying an additional 371,653 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. This represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on ZBH shares. Royal Bank of Canada lowered their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Stifel Nicolaus raised their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Stock Up 0.2 %

Shares of NYSE ZBH opened at $110.60 on Thursday. Zimmer Biomet Holdings, Inc. has a 1 year low of $97.69 and a 1 year high of $133.90. The company has a market capitalization of $22.02 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The business has a 50-day moving average of $107.06 and a two-hundred day moving average of $106.92.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share 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 quarter in the prior year, the firm posted $2.20 earnings per share. On average, analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is 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.