Reinhart Partners Inc. Cuts Holdings in Zimmer Biomet Holdings Inc (NYSE:ZBH)

Reinhart Partners Inc. trimmed its holdings in shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) by 13.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,557 shares of the medical equipment provider’s stock after selling 900 shares during the period. Reinhart Partners Inc.’s holdings in Zimmer Biomet were worth $763,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ZBH. Personal Wealth Partners bought a new position in Zimmer Biomet in the 2nd quarter worth $26,000. TRUE Private Wealth Advisors bought a new stake in Zimmer Biomet during the second quarter valued at about $26,000. Allworth Financial LP raised its holdings in Zimmer Biomet by 65.0% during the third quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 80 shares during the period. Coastal Investment Advisors Inc. raised its holdings in Zimmer Biomet by 271.0% during the second quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 187 shares during the period. Finally, Private Ocean LLC raised its holdings in Zimmer Biomet by 34.8% during the second quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

A number of equities research analysts have commented on ZBH shares. Robert W. Baird raised Zimmer Biomet from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $154.00 in a report on Monday, July 29th. Stifel Nicolaus set a $155.00 target price on Zimmer Biomet and gave the stock a “buy” rating in a report on Tuesday, September 17th. Canaccord Genuity raised Zimmer Biomet from a “hold” rating to a “buy” rating and lifted their target price for the stock from $137.00 to $167.00 in a report on Wednesday, September 18th. Oppenheimer lifted their target price on Zimmer Biomet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Co lifted their target price on Zimmer Biomet from $150.00 to $158.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Zimmer Biomet currently has an average rating of “Buy” and an average target price of $147.95.

In related news, insider Didier Deltort sold 360 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $139.25, for a total value of $50,130.00. Following the completion of the transaction, the insider now owns 1,194 shares of the company’s stock, valued at $166,264.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chad F. Phipps sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $138.28, for a total transaction of $967,960.00. Following the completion of the transaction, the vice president now directly owns 37,722 shares of the company’s stock, valued at approximately $5,216,198.16. The disclosure for this sale can be found here. Insiders sold 40,244 shares of company stock valued at $5,621,885 in the last quarter. 0.72% of the stock is owned by company insiders.

ZBH traded up $2.07 on Friday, hitting $144.00. The company had a trading volume of 1,024,800 shares, compared to its average volume of 1,183,991. The company has a market cap of $28.81 billion, a PE ratio of 18.85, a PEG ratio of 2.66 and a beta of 1.14. Zimmer Biomet Holdings Inc has a 12-month low of $96.99 and a 12-month high of $144.96. The company has a quick ratio of 0.56, a current ratio of 1.19 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $137.06 and its 200 day simple moving average is $128.64.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.02. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a positive return on equity of 13.89% and a negative net margin of 1.14%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.63 earnings per share. On average, analysts anticipate that Zimmer Biomet Holdings Inc will post 7.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.67%. Zimmer Biomet’s payout ratio is 12.57%.

Zimmer Biomet 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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