Meridiem Capital Partners LP Invests $11.51 Million in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Meridiem Capital Partners LP acquired a new stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 108,932 shares of the medical equipment provider's stock, valued at approximately $11,506,000. Meridiem Capital Partners LP owned 0.05% of Zimmer Biomet at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet in the fourth quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at about $36,000. Kentucky Trust Co acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at about $39,000. OFI Invest Asset Management acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at about $40,000. Finally, Dunhill Financial LLC grew its stake in shares of Zimmer Biomet by 86.6% during the fourth quarter. Dunhill Financial LLC now owns 444 shares of the medical equipment provider's stock valued at $47,000 after acquiring an additional 206 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial set a $101.00 price target on Zimmer Biomet in a research note 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 report on Monday, May 12th. 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. Morgan Stanley dropped their target price on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, Stifel Nicolaus set a $115.00 price target on shares of Zimmer Biomet and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet presently has an average rating of "Hold" and a consensus price target of $113.45.

Zimmer Biomet Stock Up 0.1%

Shares of Zimmer Biomet stock traded up $0.05 on Friday, hitting $96.78. 2,339,193 shares of the company traded hands, compared to its average volume of 1,754,599. 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 12-month low of $89.92 and a 12-month high of $120.13. The company has a 50-day moving average price of $103.41 and a 200 day moving average price of $105.84. The company has a market cap of $19.15 billion, a PE ratio of 21.75, a PEG ratio of 1.95 and a beta of 0.78.

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, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business earned $1.94 EPS. Zimmer Biomet's quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Monday, March 31st. Zimmer Biomet's payout ratio is presently 21.24%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares of the company's stock, valued at $915,379.20. The trade was a 14.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by company 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.