Edgestream Partners L.P. Has $1.22 Million Holdings in Zimmer Biomet Holdings, Inc. $ZBH

Key Points

• Edgestream Partners increased its Zimmer Biomet stake by 365.3% in the first quarter, ending with 13,469 shares valued at approximately $1.22 million.
• Institutional investors and hedge funds own 88.89% of Zimmer Biomet, while the stock recently traded at $96.92. The company pays a quarterly dividend of $0.24 per share, yielding about 1.0% annually.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $102. Several firms recently lowered their price targets, and Weiss Ratings downgraded the stock to “sell.”

Edgestream Partners L.P. increased its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 365.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,469 shares of the medical equipment provider's stock after purchasing an additional 10,574 shares during the quarter. Edgestream Partners L.P.'s holdings in Zimmer Biomet were worth $1,218,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. M&T Bank Corp raised its position in shares of Zimmer Biomet by 15,705.6% in the 4th quarter. M&T Bank Corp now owns 3,571,595 shares of the medical equipment provider's stock valued at $321,158,000 after buying an additional 3,548,998 shares in the last quarter. Norges Bank bought a new position in Zimmer Biomet in the fourth quarter valued at approximately $221,234,000. Franklin Resources Inc. increased its stake in Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider's stock valued at $601,204,000 after acquiring an additional 2,017,857 shares during the last quarter. Auto Owners Insurance Co raised its position in Zimmer Biomet by 8,892.0% during the fourth quarter. Auto Owners Insurance Co now owns 2,009,712 shares of the medical equipment provider's stock valued at $180,713,000 after purchasing an additional 1,987,362 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Zimmer Biomet by 276.6% during the second quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider's stock valued at $118,627,000 after purchasing an additional 955,284 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Trading Up 3.2%

NYSE ZBH opened at $96.92 on Tuesday. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 2.77 and a beta of 0.45. Zimmer Biomet Holdings, Inc. has a twelve month low of $79.12 and a twelve month high of $108.29. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The business's fifty day moving average is $89.07 and its 200 day moving average is $89.91.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, June 25th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 25th. Zimmer Biomet's dividend payout ratio (DPR) is presently 24.94%.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the sale, the insider directly owned 27,251 shares in the company, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citizens Jmp reduced their target price on Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company lowered their price target on Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, April 29th. Citigroup dropped their price objective on Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, May 28th. JPMorgan Chase & Co. reduced their price objective on Zimmer Biomet from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 29th. Finally, Weiss Ratings cut Zimmer Biomet from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $102.00.

Zimmer Biomet Profile

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

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