Russell Investments Group Ltd. Sells 28,894 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Russell Investments Group Ltd. cut its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,902 shares of the medical equipment provider’s stock after selling 28,894 shares during the quarter. Russell Investments Group Ltd.’s holdings in Zimmer Biomet were worth $10,575,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Zimmer Biomet by 21.2% in the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after buying an additional 852,186 shares during the period. Boston Partners increased its stake in shares of Zimmer Biomet by 29.2% in the third quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock valued at $302,366,000 after buying an additional 608,959 shares during the period. Barclays PLC increased its stake in shares of Zimmer Biomet by 129.2% in the third quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock valued at $120,356,000 after buying an additional 604,652 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Zimmer Biomet in the third quarter valued at about $57,972,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Zimmer Biomet in the third quarter valued at about $50,763,000. 88.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZBH. Oppenheimer increased their price target on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 9th. Barclays raised their target price on Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Monday, February 12th. Citigroup raised their target price on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $135.40.

Insiders Place Their Bets

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Zimmer Biomet Stock Up 2.7 %

ZBH stock opened at $121.66 on Monday. Zimmer Biomet Holdings, Inc. has a twelve month low of $102.00 and a twelve month high of $147.50. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $125.30 and its 200-day moving average is $120.21. The firm has a market capitalization of $25.03 billion, a PE ratio of 26.33, a P/E/G ratio of 2.23 and a beta of 1.03.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

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.