Wedge Capital Management L L P NC Reduces Stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Wedge Capital Management L L P NC cut its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,479 shares of the medical equipment provider's stock after selling 12,441 shares during the period. Wedge Capital Management L L P NC's holdings in Zimmer Biomet were worth $10,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. OLD National Bancorp IN purchased a new stake in shares of Zimmer Biomet during the first quarter valued at $207,000. Lmcg Investments LLC grew its stake in Zimmer Biomet by 9.5% during the 1st quarter. Lmcg Investments LLC now owns 61,260 shares of the medical equipment provider's stock valued at $6,933,000 after purchasing an additional 5,311 shares during the last quarter. Gilman Hill Asset Management LLC grew its stake in Zimmer Biomet by 3.9% during the 1st quarter. Gilman Hill Asset Management LLC now owns 29,120 shares of the medical equipment provider's stock valued at $3,296,000 after purchasing an additional 1,081 shares during the last quarter. Bridge Creek Capital Management LLC raised its stake in shares of Zimmer Biomet by 0.8% in the first quarter. Bridge Creek Capital Management LLC now owns 26,836 shares of the medical equipment provider's stock worth $3,037,000 after purchasing an additional 215 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its stake in shares of Zimmer Biomet by 12.4% in the first quarter. ST Germain D J Co. Inc. now owns 102,072 shares of the medical equipment provider's stock worth $11,553,000 after purchasing an additional 11,227 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ZBH shares. The Goldman Sachs Group cut their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. JMP Securities reduced their target price on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada decreased their target price 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. Canaccord Genuity Group cut their price target on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Finally, BTIG Research reissued a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and an average target price of $111.53.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.94 during midday trading on Thursday, hitting $93.30. The stock had a trading volume of 1,110,825 shares, compared to its average volume of 1,795,656. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 1 year low of $89.22 and a 1 year high of $116.71. The company has a market capitalization of $18.46 billion, a PE ratio of 20.97, a P/E/G ratio of 1.95 and a beta of 0.72. The stock has a 50 day simple moving average of $96.94 and a 200-day simple moving average of $103.82.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results 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 company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, June 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 1.03%. Zimmer Biomet's payout ratio is 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.