Foresters Investment Management Company Inc. lessened its stake in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 16.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,700 shares of the medical equipment provider’s stock after selling 8,900 shares during the period. Foresters Investment Management Company Inc.’s holdings in Zimmer Biomet were worth $4,636,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. boosted its holdings in shares of Zimmer Biomet by 176.4% in the 4th quarter. Legacy Financial Advisors Inc. now owns 351 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 224 shares during the last quarter. Clean Yield Group purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $37,000. Doyle Wealth Management purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $41,000. IMS Capital Management purchased a new stake in shares of Zimmer Biomet in the 3rd quarter valued at $69,000. Finally, Essex Savings Bank purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $62,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

ZBH opened at $122.94 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.83 and a debt-to-equity ratio of 0.75. Zimmer Biomet Holdings Inc has a 1 year low of $96.99 and a 1 year high of $134.55. The firm has a market capitalization of $25.08 billion, a P/E ratio of 16.09, a PEG ratio of 2.20 and a beta of 1.23.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Friday, February 1st. The medical equipment provider reported $2.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $2.18. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Zimmer Biomet had a negative net margin of 4.78% and a positive return on equity of 13.17%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 earnings per share. As a group, equities research analysts forecast that Zimmer Biomet Holdings Inc will post 7.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, March 28th. Zimmer Biomet’s dividend payout ratio is presently 12.57%.

Several analysts have recently commented on ZBH shares. JPMorgan Chase & Co. downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $118.00 in a report on Wednesday, December 19th. Morgan Stanley dropped their price objective on shares of Zimmer Biomet from $149.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Deutsche Bank assumed coverage on shares of Zimmer Biomet in a research note on Wednesday, January 2nd. They issued a “hold” rating and a $108.00 target price for the company. Citigroup upgraded shares of Zimmer Biomet from a “neutral” rating to a “buy” rating and boosted their target price for the company from $122.00 to $127.00 in a research note on Wednesday, January 2nd. Finally, Stifel Nicolaus decreased their target price on shares of Zimmer Biomet from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $128.33.

In related news, insider Bryan C. Hanson acquired 2,100 shares of Zimmer Biomet stock in a transaction on Thursday, February 7th. The stock was bought at an average cost of $119.02 per share, for a total transaction of $249,942.00. Following the completion of the transaction, the insider now owns 30,615 shares of the company’s stock, valued at approximately $3,643,797.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael W. Michelson acquired 2,085 shares of Zimmer Biomet stock in a transaction on Friday, February 8th. The shares were bought at an average price of $119.69 per share, with a total value of $249,553.65. Following the completion of the transaction, the director now directly owns 2,085 shares of the company’s stock, valued at approximately $249,553.65. The disclosure for this purchase can be found here. Insiders have acquired 12,860 shares of company stock valued at $1,548,994 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

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Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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