Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lowered its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 56.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,425 shares of the medical equipment provider's stock after selling 3,173 shares during the period. Goelzer Investment Management Inc.'s holdings in Zimmer Biomet were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of Zimmer Biomet by 398.7% during 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 shares of Zimmer Biomet during the 4th quarter worth approximately $216,223,000. Dodge & Cox boosted its position in shares of Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after purchasing an additional 2,044,645 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Zimmer Biomet by 191.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock worth $146,763,000 after purchasing an additional 913,310 shares during the period. Finally, Sound Shore Management Inc. CT purchased a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $81,447,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Insider Buying and Selling

In related 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 sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is owned by corporate insiders.

Zimmer Biomet Stock Up 0.2%

Shares of Zimmer Biomet stock traded up $0.17 during trading on Friday, hitting $93.67. 927,032 shares of the stock were exchanged, compared to its average volume of 1,811,399. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71. The firm's 50-day moving average price is $94.04 and its 200 day moving average price is $101.76. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month 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.

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

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 annualized dividend and a yield of 1.02%. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ZBH shares. BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. JMP Securities decreased their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial decreased their price target on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Royal Bank Of Canada decreased their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $111.33.

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.