Valeo Financial Advisors LLC Trims Stock Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Valeo Financial Advisors LLC cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 5.0% in the first quarter, Holdings Channel.com reports. The fund owned 21,238 shares of the medical equipment provider’s stock after selling 1,124 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Zimmer Biomet were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in shares of Zimmer Biomet by 11,244.9% in the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock valued at $8,146,000 after buying an additional 66,345 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Zimmer Biomet by 37.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock valued at $18,981,000 after buying an additional 42,539 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Zimmer Biomet by 10.1% in the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock valued at $20,640,000 after buying an additional 15,552 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Zimmer Biomet by 499.0% in the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after buying an additional 112,237 shares during the last quarter. Finally, Premier Path Wealth Partners LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $1,093,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $106.57 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $144.13. The firm has a 50-day simple moving average of $114.69 and a 200 day simple moving average of $121.05. The company has a market cap of $21.92 billion, a PE ratio of 23.07, a P/E/G ratio of 1.91 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. Zimmer Biomet’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. On average, sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s payout ratio is 20.78%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Argus raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Tuesday, May 21st. Oppenheimer raised their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 target price on the stock. Finally, Evercore ISI decreased their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an “in-line” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus target price of $131.76.

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.