Cresset Asset Management LLC Decreases Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cresset Asset Management LLC lessened its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,208 shares of the medical equipment provider's stock after selling 8,477 shares during the quarter. Cresset Asset Management LLC's holdings in Zimmer Biomet were worth $3,939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after purchasing an additional 2,796,372 shares during the period. Norges Bank purchased a new position in Zimmer Biomet during the fourth quarter valued at $216,223,000. Dodge & Cox lifted its position in shares of Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after buying an additional 2,044,645 shares in the last quarter. Sound Shore Management Inc. CT purchased a new position in Zimmer Biomet during the 4th quarter valued at approximately $81,447,000. Finally, FMR LLC raised its position in shares of Zimmer Biomet by 91.6% during the 4th quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after buying an additional 687,675 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Activity at Zimmer Biomet

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZBH. JPMorgan Chase & Co. decreased their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Royal Bank of Canada lowered their price objective on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird cut their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company dropped their price objective on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $113.45.

Zimmer Biomet Trading Down 0.9%

Shares of ZBH traded down $0.90 during midday trading on Tuesday, hitting $97.32. 2,283,103 shares of the stock were exchanged, compared to its average volume of 1,730,282. The stock has a fifty day simple moving average of $104.30 and a 200 day simple moving average of $106.10. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.92 and a 52-week high of $122.25. The firm has a market cap of $19.25 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

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

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.99%. Zimmer Biomet's dividend payout ratio is presently 21.24%.

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.