Prosight Management LP Sells 85,602 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Prosight Management LP trimmed its holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 51.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the medical equipment provider's stock after selling 85,602 shares during the period. Zimmer Biomet accounts for 2.3% of Prosight Management LP's holdings, making the stock its 16th largest position. Prosight Management LP's holdings in Zimmer Biomet were worth $8,450,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP raised its position in Zimmer Biomet by 239.8% during the fourth quarter. Quantinno Capital Management LP now owns 39,736 shares of the medical equipment provider's stock valued at $4,197,000 after purchasing an additional 28,042 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in Zimmer Biomet during the fourth quarter valued at approximately $310,000. Nomura Holdings Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter worth $693,000. Nuveen Asset Management LLC increased its holdings in shares of Zimmer Biomet by 191.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock worth $146,763,000 after buying an additional 913,310 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Zimmer Biomet during the 4th quarter valued at $648,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.39% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded up $0.05 during trading hours on Friday, reaching $96.78. The company had a trading volume of 2,339,193 shares, compared to its average volume of 1,754,599. Zimmer Biomet Holdings, Inc. has a one year low of $89.92 and a one year high of $120.13. The business has a fifty day simple moving average of $103.41 and a 200 day simple moving average of $105.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The firm has a market cap of $19.15 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company earned $1.94 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal 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 given a $0.24 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.99%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ZBH shares. Morgan Stanley reduced their price objective on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the company a "buy" rating in a research report on Tuesday, May 6th. 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 note on Wednesday, May 7th. 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 note on Tuesday, May 6th. Finally, Truist Financial set a $101.00 price objective on Zimmer Biomet in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of "Hold" and an average target price of $113.45.

Zimmer Biomet 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.