Envestnet Asset Management Inc. Has $35.80 Million Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Envestnet Asset Management Inc. grew its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 26.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 316,308 shares of the medical equipment provider's stock after buying an additional 66,114 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Zimmer Biomet worth $35,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in shares of Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after acquiring an additional 2,796,372 shares during the period. Norges Bank acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $216,223,000. Dodge & Cox increased its stake in shares of Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after acquiring an additional 2,044,645 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Zimmer Biomet by 191.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock valued at $146,763,000 after acquiring an additional 913,310 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $81,447,000. Institutional investors own 88.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ZBH shares. Raymond James Financial lowered their price objective on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group lowered their price objective on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley decreased their price target on shares of Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Finally, Evercore ISI decreased their price target on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating on the stock in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and a consensus price target of $111.39.

Insider Activity

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

Zimmer Biomet Trading Up 0.7%

NYSE ZBH traded up $0.70 on Thursday, hitting $94.92. 2,491,887 shares of the stock were exchanged, compared to its average volume of 1,832,928. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 2.18 and a beta of 0.71. The company's 50-day moving average price is $93.30 and its two-hundred day moving average price is $101.01.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the previous year, the company posted $1.94 EPS. The company's quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's dividend payout ratio (DPR) is currently 21.24%.

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.