Primecap Management Co. CA Has $530.02 Million Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Key Points

• Primecap Management Co. CA has reduced its holdings in Zimmer Biomet by 2.4%, now owning approximately $530 million worth of shares.
• Analysts have set new price targets for Zimmer Biomet, with a consensus rating of "Hold" and an average price target of $111.39.
• Zimmer Biomet recently reported earnings of $1.81 per share, which exceeded analysts' expectations and indicated a modest revenue increase of 1.1% year-over-year.

Primecap Management Co. CA decreased its holdings in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,682,970 shares of the medical equipment provider's stock after selling 114,180 shares during the quarter. Primecap Management Co. CA owned about 2.37% of Zimmer Biomet worth $530,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet during the 1st quarter worth $29,000. Menard Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. purchased a new stake in Zimmer Biomet during the first quarter valued at approximately $30,000. Columbia River Financial Group LLC acquired a new stake in shares of Zimmer Biomet in the first quarter worth $30,000. Finally, Accent Capital Management LLC acquired a new stake in Zimmer Biomet during the first quarter valued at $35,000. Institutional investors own 88.89% of the company's stock.

Analysts Set New Price Targets

ZBH has been the subject of several analyst reports. Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Canaccord Genuity Group reduced their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a report on Monday, May 12th. Robert W. Baird cut their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their target price on Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Two equities 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 data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of "Hold" and an average price target of $111.39.

Zimmer Biomet Price Performance

NYSE ZBH opened at $91.91 on Wednesday. The company has a 50 day moving average price of $93.12 and a two-hundred day moving average price of $100.01. The company has a quick ratio of 1.46, a current ratio of 2.44 and a debt-to-equity ratio of 0.53. Zimmer Biomet Holdings, Inc. has a 12-month low of $89.22 and a 12-month high of $116.71. The stock has a market capitalization of $18.18 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 2.16 and a beta of 0.68.

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

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred 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 approximately $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.

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