Daiwa SB Investments Ltd. lowered its position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,050 shares of the medical equipment provider’s stock after selling 1,010 shares during the period. Daiwa SB Investments Ltd.’s holdings in Zimmer Biomet Holdings were worth $1,034,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ZBH. Cibc World Markets Corp increased its stake in shares of Zimmer Biomet Holdings by 52.9% in the first quarter. Cibc World Markets Corp now owns 21,007 shares of the medical equipment provider’s stock worth $2,565,000 after buying an additional 7,269 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Zimmer Biomet Holdings by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,144 shares of the medical equipment provider’s stock worth $737,000 after buying an additional 450 shares during the period. Auxier Asset Management increased its stake in shares of Zimmer Biomet Holdings by 3.3% in the fourth quarter. Auxier Asset Management now owns 86,514 shares of the medical equipment provider’s stock worth $8,928,000 after buying an additional 2,750 shares during the period. Israel Discount Bank of New York purchased a new stake in shares of Zimmer Biomet Holdings during the first quarter worth about $721,000. Finally, DnB Asset Management AS increased its stake in shares of Zimmer Biomet Holdings by 16.2% in the first quarter. DnB Asset Management AS now owns 22,208 shares of the medical equipment provider’s stock worth $2,712,000 after buying an additional 3,100 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zimmer Biomet Holdings, Inc. (NYSE ZBH) opened at 129.61 on Friday. The company’s 50-day moving average is $127.30 and its 200 day moving average is $120.33. The firm has a market capitalization of $26.14 billion, a PE ratio of 53.05 and a beta of 1.21. Zimmer Biomet Holdings, Inc. has a 52-week low of $95.63 and a 52-week high of $133.49.
Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.11 by $0.02. Zimmer Biomet Holdings had a net margin of 6.36% and a return on equity of 16.80%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts expect that Zimmer Biomet Holdings, Inc. will post $8.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, June 23rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.74%. The ex-dividend date is Wednesday, June 21st. Zimmer Biomet Holdings’s payout ratio is 39.67%.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Zimmer Biomet Holdings in a research report on Tuesday, May 16th. They set a “sell” rating and a $92.00 price objective for the company. Canaccord Genuity restated a “buy” rating on shares of Zimmer Biomet Holdings in a research report on Friday, April 28th. Wells Fargo & Company cut shares of Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, Morgan Stanley upped their price objective on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $137.77.
In related news, insider David C. Dvorak sold 87,331 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $116.47, for a total value of $10,171,441.57. Following the completion of the transaction, the insider now owns 381,886 shares of the company’s stock, valued at approximately $44,478,262.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sang Yi sold 17,731 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $124.56, for a total transaction of $2,208,573.36. The disclosure for this sale can be found here. Insiders sold a total of 111,262 shares of company stock valued at $13,103,927 in the last three months. 1.07% of the stock is currently owned by corporate insiders.
About Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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