Bridger Management LLC Invests $9.56 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Bridger Management LLC bought a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 90,538 shares of the medical equipment provider's stock, valued at approximately $9,564,000. Zimmer Biomet accounts for about 5.1% of Bridger Management LLC's investment portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of ZBH. Brevan Howard Capital Management LP lifted its position in Zimmer Biomet by 52.5% in the fourth quarter. Brevan Howard Capital Management LP now owns 15,043 shares of the medical equipment provider's stock valued at $1,589,000 after buying an additional 5,178 shares during the last quarter. Bridgefront Capital LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter worth approximately $218,000. Cary Street Partners Financial LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $899,000. Chapman Financial Group LLC purchased a new stake in Zimmer Biomet in the fourth quarter valued at approximately $1,171,000. Finally, Bayesian Capital Management LP lifted its stake in Zimmer Biomet by 617.8% during the fourth quarter. Bayesian Capital Management LP now owns 26,607 shares of the medical equipment provider's stock worth $2,810,000 after purchasing an additional 22,900 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ZBH. Robert W. Baird cut their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their target price on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday. Royal Bank of Canada decreased their price objective on Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet has a consensus rating of "Hold" and a consensus price target of $114.15.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $0.94 during mid-day trading on Thursday, reaching $95.07. 2,886,072 shares of the stock were exchanged, compared to its average volume of 1,707,377. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $18.81 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.95 and a beta of 0.78. The company has a 50 day simple moving average of $104.61 and a 200-day simple moving average of $106.17. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.92 and a 1 year high of $122.25.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. Zimmer Biomet's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.01%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Insider Activity

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.39% of the company's stock.

Zimmer Biomet Company 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.