Brown Brothers Harriman & Co. Lowers Holdings in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Brown Brothers Harriman & Co. reduced its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 21.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,418 shares of the medical equipment provider’s stock after selling 388 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Zimmer Biomet were worth $150,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ZBH. Intech Investment Management LLC raised its holdings in Zimmer Biomet by 21.3% in the 3rd quarter. Intech Investment Management LLC now owns 2,379 shares of the medical equipment provider’s stock worth $257,000 after acquiring an additional 417 shares during the last quarter. FMR LLC lifted its stake in Zimmer Biomet by 27.6% during the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after acquiring an additional 162,384 shares during the period. Townsquare Capital LLC purchased a new stake in shares of Zimmer Biomet during the 3rd quarter valued at about $341,000. Public Sector Pension Investment Board grew its stake in shares of Zimmer Biomet by 7.5% in the third quarter. Public Sector Pension Investment Board now owns 8,620 shares of the medical equipment provider’s stock worth $931,000 after acquiring an additional 600 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in shares of Zimmer Biomet during the third quarter valued at approximately $4,476,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $112.32 on Wednesday. The firm’s fifty day moving average is $107.29 and its two-hundred day moving average is $107.14. Zimmer Biomet Holdings, Inc. has a 52-week low of $97.69 and a 52-week high of $130.89. The company has a market cap of $22.36 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned $2.20 EPS. As a group, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Wall Street Analysts Forecast Growth

ZBH has been the subject of a number of research analyst reports. Raymond James cut their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Barclays cut their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $124.15.

Insider Transactions at Zimmer Biomet

In other 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 value of $150,649.20. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.95% of the company’s stock.

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.