Van ECK Associates Corp Raises Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Van ECK Associates Corp raised its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,838,558 shares of the medical equipment provider’s stock after purchasing an additional 543,344 shares during the quarter. Van ECK Associates Corp owned 1.36% of Zimmer Biomet worth $345,452,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Naples Money Management LLC acquired a new position in Zimmer Biomet in the 4th quarter worth approximately $35,000. Activest Wealth Management raised its holdings in shares of Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 275 shares during the last quarter. Peoples Bank KS acquired a new position in Zimmer Biomet during the third quarter valued at $48,000. Blue Trust Inc. boosted its holdings in Zimmer Biomet by 48.4% in the fourth quarter. Blue Trust Inc. now owns 469 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 153 shares during the last quarter. Finally, Quent Capital LLC grew its position in Zimmer Biomet by 21.6% during the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 92 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZBH has been the topic of a number of recent research reports. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 9th. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. lifted their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Citigroup increased their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $139.39.

Insiders Place Their Bets

In other news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $2.35 during trading hours on Monday, reaching $121.70. 1,195,031 shares of the company’s stock were exchanged, compared to its average volume of 1,446,109. The business has a fifty day moving average of $125.98 and a two-hundred day moving average of $119.67. The company has a market capitalization of $25.00 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $149.25.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. Zimmer Biomet’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, March 27th. Zimmer Biomet’s payout ratio is currently 19.63%.

About Zimmer Biomet

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.