Naples Money Management LLC Makes New $35,000 Investment in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Naples Money Management LLC purchased a new position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 290 shares of the medical equipment provider’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZBH. Fairfield Bush & CO. acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $111,000. United Bank lifted its position in shares of Zimmer Biomet by 4.1% in the 1st quarter. United Bank now owns 11,072 shares of the medical equipment provider’s stock worth $1,416,000 after purchasing an additional 437 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Zimmer Biomet by 153.9% during the 1st quarter. Panagora Asset Management Inc. now owns 9,803 shares of the medical equipment provider’s stock valued at $1,254,000 after acquiring an additional 5,942 shares during the period. Aviva PLC lifted its position in shares of Zimmer Biomet by 0.4% during the 1st quarter. Aviva PLC now owns 30,636 shares of the medical equipment provider’s stock valued at $3,918,000 after acquiring an additional 137 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Zimmer Biomet by 11.2% during the 1st quarter. Allianz Asset Management GmbH now owns 41,816 shares of the medical equipment provider’s stock valued at $5,348,000 after acquiring an additional 4,224 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is currently owned by insiders.

Zimmer Biomet Trading Up 0.1 %

Shares of Zimmer Biomet stock opened at $119.43 on Friday. Zimmer Biomet Holdings, Inc. has a 12-month low of $102.00 and a 12-month high of $149.25. The company has a market cap of $24.54 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.19 and a beta of 1.01. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $126.33 and its 200-day moving average price is $119.16.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts expect that Zimmer Biomet Holdings, Inc. will post 8.07 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is currently 19.63%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ZBH shares. Raymond James upped their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com lowered shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 9th. Finally, TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $139.39.

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.