Sei Investments Co. Buys 113,923 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sei Investments Co. boosted its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 22.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 613,032 shares of the medical equipment provider’s stock after purchasing an additional 113,923 shares during the period. Sei Investments Co. owned approximately 0.29% of Zimmer Biomet worth $74,607,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Zimmer Biomet in the fourth quarter worth about $266,896,000. American Century Companies Inc. boosted its holdings 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 worth $545,809,000 after buying an additional 852,186 shares during the last quarter. Van ECK Associates Corp grew its position in Zimmer Biomet by 23.7% during the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after buying an additional 543,344 shares during the period. Qube Research & Technologies Ltd bought a new position in Zimmer Biomet in the third quarter worth approximately $57,972,000. Finally, Primecap Management Co. CA boosted its stake in shares of Zimmer Biomet by 10.5% during the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after acquiring an additional 484,151 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Performance

Zimmer Biomet stock traded down $0.03 during mid-day trading on Friday, reaching $113.34. 1,070,254 shares of the company traded hands, compared to its average volume of 1,207,880. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The firm’s fifty day moving average is $120.60 and its two-hundred day moving average is $122.01. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS 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 firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s payout ratio is presently 20.78%.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of recent research reports. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Tuesday, May 21st. Evercore ISI lifted their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price objective on the stock. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $133.75.

Zimmer Biomet Profile

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.