Citigroup Inc. Purchases 63,125 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Citigroup Inc. lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 47.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,308 shares of the medical equipment provider's stock after purchasing an additional 63,125 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Zimmer Biomet worth $22,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ZBH. Dodge & Cox raised its position in Zimmer Biomet by 12.0% in the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Nuveen Asset Management LLC raised its position in Zimmer Biomet by 191.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after purchasing an additional 913,310 shares during the last quarter. Freestone Grove Partners LP bought a new position in Zimmer Biomet in the 4th quarter valued at $67,954,000. Boston Trust Walden Corp bought a new position in Zimmer Biomet in the 1st quarter valued at $54,108,000. Finally, GAMMA Investing LLC raised its position in Zimmer Biomet by 17,147.9% in the 1st quarter. GAMMA Investing LLC now owns 396,356 shares of the medical equipment provider's stock valued at $44,860,000 after purchasing an additional 394,058 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Stock Down 1.1%

NYSE ZBH traded down $1.10 during trading hours on Thursday, hitting $102.12. 1,525,117 shares of the company traded hands, compared to its average volume of 1,854,930. The business's 50-day moving average is $93.94 and its 200-day moving average is $99.61. Zimmer Biomet Holdings, Inc. has a twelve month low of $89.22 and a twelve month high of $116.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.87. The stock has a market capitalization of $20.23 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 2.35 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The business's quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 0.9%. Zimmer Biomet's dividend payout ratio is currently 23.36%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZBH. The Goldman Sachs Group dropped their target price on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird dropped their target price on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley dropped their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group dropped their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Finally, Royal Bank Of Canada upped their price objective on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $111.44.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.39% of the stock is owned by corporate insiders.

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.