Ceredex Value Advisors LLC Invests $179.65 Million in Zimmer Biomet (ZBH) Stock

Ceredex Value Advisors LLC bought a new position in shares of Zimmer Biomet (NYSE:ZBH) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 1,643,999 shares of the medical equipment provider’s stock, valued at approximately $179,652,000. Zimmer Biomet accounts for about 2.1% of Ceredex Value Advisors LLC’s holdings, making the stock its 2nd largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Armor Investment Advisors LLC lifted its stake in shares of Zimmer Biomet by 11.7% in the 4th quarter. Armor Investment Advisors LLC now owns 3,830 shares of the medical equipment provider’s stock valued at $463,000 after acquiring an additional 400 shares during the last quarter. Financial Counselors Inc. lifted its stake in shares of Zimmer Biomet by 5.2% in the 4th quarter. Financial Counselors Inc. now owns 8,709 shares of the medical equipment provider’s stock valued at $1,051,000 after acquiring an additional 431 shares during the last quarter. Creative Planning lifted its stake in shares of Zimmer Biomet by 2.9% in the 4th quarter. Creative Planning now owns 15,765 shares of the medical equipment provider’s stock valued at $1,902,000 after acquiring an additional 443 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Zimmer Biomet by 0.9% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 49,118 shares of the medical equipment provider’s stock valued at $5,926,000 after acquiring an additional 447 shares during the last quarter. Finally, River Wealth Advisors LLC lifted its stake in shares of Zimmer Biomet by 3.0% in the 4th quarter. River Wealth Advisors LLC now owns 15,585 shares of the medical equipment provider’s stock valued at $1,881,000 after acquiring an additional 461 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Shares of Zimmer Biomet opened at $115.05 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.69 and a quick ratio of 1.07. Zimmer Biomet has a 1-year low of $111.77 and a 1-year high of $113.83. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, April 26th. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.02. Zimmer Biomet had a return on equity of 14.36% and a net margin of 21.81%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $2.13 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. sell-side analysts forecast that Zimmer Biomet will post 7.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Thursday, March 29th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.83%. Zimmer Biomet’s payout ratio is currently 11.96%.

In other Zimmer Biomet news, insider Bryan C. Hanson purchased 25,077 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $119.68 per share, for a total transaction of $3,001,215.36. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Tony W. Collins sold 1,330 shares of the stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $116.73, for a total value of $155,250.90. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

A number of research analysts have recently commented on the company. Needham & Company LLC dropped their price target on Zimmer Biomet from $155.00 to $146.00 and set a “strong-buy” rating for the company in a research note on Friday, April 27th. JMP Securities lowered their target price on Zimmer Biomet from $145.00 to $133.00 and set a “market outperform” rating for the company in a research report on Friday, April 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $144.00 target price on shares of Zimmer Biomet in a research report on Tuesday, January 30th. Oppenheimer started coverage on Zimmer Biomet in a research report on Thursday, March 15th. They set an “outperform” rating and a $135.00 target price for the company. Finally, Leerink Swann raised their target price on Zimmer Biomet from $142.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Zimmer Biomet currently has an average rating of “Buy” and an average target price of $137.71.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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