Allstate Corp Makes New $669,000 Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Allstate Corp purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,329 shares of the medical equipment provider’s stock, valued at approximately $669,000.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in Zimmer Biomet during the 4th quarter worth $216,223,000. Sound Shore Management Inc. CT purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $81,447,000. Hotchkis & Wiley Capital Management LLC grew its position in shares of Zimmer Biomet by 49.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after buying an additional 577,320 shares in the last quarter. Equity Investment Corp increased its stake in shares of Zimmer Biomet by 57.2% during the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock worth $107,855,000 after buying an additional 371,653 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after acquiring an additional 218,688 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business’s 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 transaction, the senior vice president now owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was 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. 0.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ZBH shares. Stifel Nicolaus increased their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Barclays decreased their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a report on Monday, February 10th. Royal Bank of Canada dropped their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $124.15.

Zimmer Biomet Stock Up 1.0 %

ZBH opened at $113.33 on Tuesday. Zimmer Biomet Holdings, Inc. has a 52 week low of $97.69 and a 52 week high of $131.61. The business has a 50 day moving average price of $107.26 and a two-hundred day moving average price of $107.10. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $22.56 billion, a PE ratio of 25.47, a P/E/G ratio of 1.95 and a beta of 1.04.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the previous year, the firm earned $2.20 earnings per share. As a group, research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

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.