Defilade Capital Management L.P. Buys New Position in Zimmer Biomet Holdings, Inc. $ZBH

Defilade Capital Management L.P. purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 579,161 shares of the medical equipment provider’s stock, valued at approximately $52,368,000. Zimmer Biomet comprises 7.4% of Defilade Capital Management L.P.’s holdings, making the stock its biggest holding. Defilade Capital Management L.P. owned about 0.30% of Zimmer Biomet as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox boosted its holdings in shares of Zimmer Biomet by 1.3% in the fourth quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider’s stock valued at $2,113,736,000 after acquiring an additional 290,676 shares during the period. Vanguard Group Inc. increased its holdings in shares of Zimmer Biomet by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider’s stock valued at $2,111,658,000 after acquiring an additional 192,517 shares during the period. State Street Corp raised its position in Zimmer Biomet by 2.3% in the 4th quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider’s stock valued at $795,814,000 after purchasing an additional 195,214 shares during the last quarter. Franklin Resources Inc. raised its position in Zimmer Biomet by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock valued at $601,204,000 after purchasing an additional 2,017,857 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Zimmer Biomet by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 5,233,834 shares of the medical equipment provider’s stock worth $468,821,000 after purchasing an additional 36,611 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings lowered shares of Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Citigroup decreased their target price on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. UBS Group began coverage on Zimmer Biomet in a report on Tuesday, July 28th. They set a “buy” rating and a $115.00 price target on the stock. Barclays dropped their price target on Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus reduced their price objective on Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $102.00.

Insider Transactions at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares of the company’s stock, valued at $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.28% of the stock is owned by corporate insiders.

Zimmer Biomet Stock Up 0.3%

Shares of Zimmer Biomet stock opened at $94.20 on Monday. The company has a market cap of $18.22 billion, a P/E ratio of 24.47, a PEG ratio of 2.77 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73. Zimmer Biomet Holdings, Inc. has a one year low of $79.12 and a one year high of $108.29. The firm has a fifty day moving average of $88.84 and a two-hundred day moving average of $89.85.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, June 25th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, June 25th. Zimmer Biomet’s payout ratio is 24.94%.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.