DnB Asset Management AS lowered its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,608 shares of the medical equipment provider’s stock after selling 600 shares during the period. DnB Asset Management AS’s holdings in Zimmer Biomet Holdings were worth $2,774,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in Zimmer Biomet Holdings by 2.7% in the first quarter. Parkside Financial Bank & Trust now owns 839 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 22 shares during the last quarter. Parallel Advisors LLC increased its stake in Zimmer Biomet Holdings by 20.8% in the first quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 199 shares during the last quarter. IHT Wealth Management LLC increased its stake in Zimmer Biomet Holdings by 28.4% in the first quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock valued at $139,000 after buying an additional 256 shares during the last quarter. Sandy Spring Bank increased its stake in Zimmer Biomet Holdings by 1.7% in the first quarter. Sandy Spring Bank now owns 1,222 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 20 shares during the last quarter. Finally, Ledyard National Bank increased its stake in Zimmer Biomet Holdings by 9.3% in the first quarter. Ledyard National Bank now owns 1,293 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 110 shares during the last quarter. 83.62% of the stock is currently owned by hedge funds and other institutional investors.
Zimmer Biomet Holdings, Inc. (ZBH) traded down 0.75% during mid-day trading on Monday, reaching $117.05. 220,880 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $127.65 and a 200-day moving average price of $121.39. Zimmer Biomet Holdings, Inc. has a 1-year low of $95.63 and a 1-year high of $133.49. The stock has a market cap of $23.62 billion, a P/E ratio of 33.34 and a beta of 1.20.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the business earned $2.02 earnings per share. Zimmer Biomet Holdings’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post $8.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 23rd were issued a $0.24 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.81%. Zimmer Biomet Holdings’s dividend payout ratio (DPR) is presently 27.59%.
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ZBH has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) began coverage on shares of Zimmer Biomet Holdings in a research report on Tuesday, May 16th. They issued a “sell” rating and a $92.00 target price for the company. Zacks Investment Research lowered shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zimmer Biomet Holdings in a report on Friday, April 28th. Wells Fargo & Company lowered shares of Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Finally, Morgan Stanley boosted their target price 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 assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $137.76.
In related news, insider Sang Yi sold 17,731 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $124.56, for a total value of $2,208,573.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Tony W. Collins sold 16,986 shares of the firm’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 disclosure for this sale can be found here. 1.07% of the stock is owned by company 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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