Sound Shore Management Inc. CT Acquires 27,423 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sound Shore Management Inc. CT lifted its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 798,486 shares of the medical equipment provider's stock after buying an additional 27,423 shares during the quarter. Zimmer Biomet makes up 3.2% of Sound Shore Management Inc. CT's portfolio, making the stock its 12th biggest position. Sound Shore Management Inc. CT owned approximately 0.40% of Zimmer Biomet worth $90,373,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Franklin Resources Inc. lifted its position in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after purchasing an additional 2,796,372 shares during the last quarter. Norges Bank bought a new stake in Zimmer Biomet in the 4th quarter valued at about $216,223,000. Dodge & Cox lifted 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 lifted 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. Finally, FMR LLC lifted its position in Zimmer Biomet by 91.6% in the 4th quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after purchasing an additional 687,675 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZBH has been the topic of several research analyst reports. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group lowered their target price 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. Robert W. Baird lowered their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price 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. Finally, Wells Fargo & Company lowered their target price on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and a consensus price target of $111.39.

Zimmer Biomet Stock Up 0.7%

ZBH traded up $0.72 on Friday, reaching $97.59. 1,068,261 shares of the company traded hands, compared to its average volume of 1,849,641. 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 cap of $19.31 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.26 and a beta of 0.71. Zimmer Biomet Holdings, Inc. has a 52-week low of $89.22 and a 52-week high of $116.71. The stock's 50 day moving average price is $93.20 and its 200-day moving average price is $100.64.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates 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%. Zimmer Biomet'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 earnings per share. On average, sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, June 26th. Zimmer Biomet's payout ratio is 21.24%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the stock in a transaction dated 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 owned 20,424 shares of the company's stock, valued at $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.39% of the company's stock.

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.