Northstar Asset Management LLC acquired a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,264 shares of the medical equipment provider’s stock, valued at approximately $202,000.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Zimmer Biomet by 23.9% during the fourth quarter. BlackRock Inc. now owns 19,395,694 shares of the medical equipment provider’s stock worth $2,988,683,000 after buying an additional 3,738,953 shares during the period. Viking Global Investors LP grew its stake in Zimmer Biomet by 128.8% during the fourth quarter. Viking Global Investors LP now owns 3,867,074 shares of the medical equipment provider’s stock worth $595,877,000 after purchasing an additional 2,176,989 shares during the period. Bank of New York Mellon Corp lifted its stake in Zimmer Biomet by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,023,426 shares of the medical equipment provider’s stock valued at $311,792,000 after buying an additional 41,605 shares during the period. Norges Bank bought a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $304,733,000. Finally, Ceredex Value Advisors LLC increased its stake in shares of Zimmer Biomet by 38.7% in the 4th quarter. Ceredex Value Advisors LLC now owns 1,455,992 shares of the medical equipment provider’s stock valued at $224,701,000 after acquiring an additional 406,268 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.
A number of equities analysts have recently issued reports on ZBH shares. Zacks Investment Research cut shares of Zimmer Biomet from a “hold” rating to a “sell” rating and set a $167.00 price objective on the stock. in a research report on Wednesday, February 10th. Raymond James lifted their price target on shares of Zimmer Biomet from $170.00 to $187.00 and gave the company a “strong-buy” rating in a research report on Monday, February 8th. Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $176.00 to $183.00 and gave the company an “overweight” rating in a research note on Monday, March 8th. Evercore ISI upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $175.00 target price on the stock in a report on Monday, January 4th. Finally, BTIG Research boosted their price objective on Zimmer Biomet from $160.00 to $173.00 and gave the stock a “buy” rating in a report on Monday, January 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $167.83.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 4th. The medical equipment provider reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.05. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Zimmer Biomet had a return on equity of 10.07% and a net margin of 0.52%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share. Equities analysts predict that Zimmer Biomet Holdings, Inc. will post 4.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Monday, March 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, March 26th. Zimmer Biomet’s payout ratio is 12.20%.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc provides musculoskeletal healthcare services. It designs, manufactures and markets orthopedic reconstructive products, sports medicine, biologics, extremities & trauma products, office based technologies, spine, craniomaxillofacial & thoracic products, dental implants and related surgical products.
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