Candriam Luxembourg S.C.A. Increases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Candriam Luxembourg S.C.A. increased its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 123.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,345 shares of the medical equipment provider’s stock after buying an additional 54,390 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Zimmer Biomet Holdings were worth $12,628,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZBH. MARSHALL WACE ASIA Ltd bought a new position in Zimmer Biomet Holdings during the first quarter valued at $38,621,000. Cibc World Markets Corp raised its position in 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 valued at $2,565,000 after buying an additional 7,269 shares in the last quarter. Caxton Associates LP bought a new position in Zimmer Biomet Holdings during the first quarter valued at $403,000. Koch Industries Inc. bought a new position in Zimmer Biomet Holdings during the first quarter valued at $255,000. Finally, Israel Discount Bank of New York bought a new position in Zimmer Biomet Holdings during the first quarter valued at $721,000. Hedge funds and other institutional investors own 83.62% of the company’s stock.

Zimmer Biomet Holdings (NYSE:ZBH) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. Zimmer Biomet Holdings’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 23rd were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, June 21st. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. Zimmer Biomet Holdings’s payout ratio is 27.59%.

TRADEMARK VIOLATION NOTICE: This piece was first posted by [[site]] and is owned by of [[site]]. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at [[permalink]].

ZBH has been the topic of several research reports. Zacks Investment Research lowered shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Zimmer Biomet Holdings in a research note on Tuesday, May 16th. They issued a “sell” rating and a $92.00 price objective on the stock. Canaccord Genuity reiterated a “buy” rating on shares of Zimmer Biomet Holdings in a research note on Friday, April 28th. Wells Fargo & Company lowered shares of Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research note 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 company an “overweight” rating in a research note on Monday, July 17th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $137.76.

In related news, VP Tony W. Collins sold 16,986 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $121.74, for a total transaction of $2,067,875.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sang Yi sold 17,731 shares of the business’s stock in a transaction on Monday, June 12th. The stock was 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. 1.07% of the stock is currently owned by 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.

Want to see what other hedge funds are holding ZBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zimmer Biomet Holdings, Inc. (NYSE:ZBH).