Cetera Investment Advisers Decreases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Cetera Investment Advisers cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 56.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,614 shares of the medical equipment provider's stock after selling 33,014 shares during the quarter. Cetera Investment Advisers' holdings in Zimmer Biomet were worth $2,706,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ZBH. Oak Thistle LLC bought a new stake in shares of Zimmer Biomet in the fourth quarter valued at $200,000. Assenagon Asset Management S.A. grew its position in Zimmer Biomet by 1.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 28,490 shares of the medical equipment provider's stock worth $3,009,000 after buying an additional 345 shares in the last quarter. Gateway Investment Advisers LLC grew its position in Zimmer Biomet by 184.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 6,133 shares of the medical equipment provider's stock worth $648,000 after acquiring an additional 3,980 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Zimmer Biomet by 60.9% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 4,649 shares of the medical equipment provider's stock worth $491,000 after acquiring an additional 1,759 shares in the last quarter. Finally, Boston Common Asset Management LLC grew its position in Zimmer Biomet by 1.1% in the fourth quarter. Boston Common Asset Management LLC now owns 49,752 shares of the medical equipment provider's stock worth $5,255,000 after acquiring an additional 528 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Down 0.6%

Shares of ZBH stock traded down $0.56 during trading hours on Tuesday, reaching $95.21. 2,330,698 shares of the company's stock were exchanged, compared to its average volume of 1,760,828. The stock's 50 day moving average is $103.24 and its 200-day moving average is $105.76. The company has a market cap of $18.84 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.95 and a beta of 0.78. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $89.92 and a fifty-two week high of $120.13.

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

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, March 31st. Zimmer Biomet's payout ratio is 21.24%.

Insider Buying and Selling at Zimmer Biomet

In other 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 transaction of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares of the company's stock, valued at $915,379.20. This represents a 14.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on ZBH shares. 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 report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Barclays cut their price target on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley reduced their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Zimmer Biomet has an average rating of "Hold" and a consensus price target of $113.45.

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.