Woodline Partners LP Has $101.71 Million Stock Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Woodline Partners LP raised its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 962,907 shares of the medical equipment provider's stock after buying an additional 45,980 shares during the quarter. Zimmer Biomet accounts for about 0.7% of Woodline Partners LP's portfolio, making the stock its 13th largest position. Woodline Partners LP owned approximately 0.48% of Zimmer Biomet worth $101,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ZBH. Assenagon Asset Management S.A. lifted its stake in Zimmer Biomet by 1.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 28,490 shares of the medical equipment provider's stock valued at $3,009,000 after buying an additional 345 shares during the period. HB Wealth Management LLC lifted its stake in Zimmer Biomet by 5.9% in the fourth quarter. HB Wealth Management LLC now owns 4,302 shares of the medical equipment provider's stock valued at $455,000 after buying an additional 241 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Zimmer Biomet by 42.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 27,270 shares of the medical equipment provider's stock valued at $2,881,000 after buying an additional 8,191 shares during the period. Culbertson A N & Co. Inc. raised its position in shares of Zimmer Biomet by 3.2% during the fourth quarter. Culbertson A N & Co. Inc. now owns 5,998 shares of the medical equipment provider's stock worth $634,000 after purchasing an additional 185 shares during the period. Finally, Ballentine Partners LLC raised its position in shares of Zimmer Biomet by 18.6% during the fourth quarter. Ballentine Partners LLC now owns 4,571 shares of the medical equipment provider's stock worth $483,000 after purchasing an additional 716 shares during the period. Institutional investors and hedge funds own 88.89% of the company's stock.

Wall Street Analyst Weigh In

ZBH has been the topic of a number of research analyst reports. JMP Securities dropped their price target on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Barclays dropped their price target on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research report on Monday, February 10th. Robert W. Baird dropped their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target on Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada dropped their price target on Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $113.45.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $95.80 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet Holdings, Inc. has a 12 month low of $89.92 and a 12 month high of $120.13. The stock has a 50 day moving average of $103.24 and a 200-day moving average of $105.76. The company has a market capitalization of $18.95 billion, a P/E ratio of 21.53, a P/E/G ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $1.94 EPS. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 1.00%. Zimmer Biomet's dividend payout ratio is currently 21.24%.

Insider Transactions at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares of the company's stock, valued at approximately $915,379.20. This trade represents a 14.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.39% of the stock is currently owned by corporate insiders.

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.

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